Home Equity Loans

Home Equity Loans

Are you putting your most valuable investment to work for you? Apply online right now for a home equity loan that can free up thousands of dollars for nearly any expense that you might have. It's a perfect way to put your asset to work for you, with exceptionally low rates and fast online application approvals.

Your home equity loan allows you to essentially use your home's asset-value as collateral for the loan, which means the greater percentage of your home that you own, the more money you'll be able to borrow against it. For most people, this means literally tens of thousands of dollars of borrowing power to apply towards a wide range of expenses.

The process of applying for your home equity loan is quick and relatively simple. You'll need a few pieces of information to get started. First and foremost is obviously your current contact information. Next, you'll need to provide a little bit of information about your existing home loan. If you own your home outright, you can state that right on the application and your home's value will be considered at up to 70% of it's value. If you're like most people and you're paying off an existing mortgage, you'll need to provide some information regarding your lending company, and how much of your mortgage is still outstanding. For most homeowners, you will need to show a mortgage payment history of several years to be approved for a home equity loan.

Once your loan is approved, you can put that large sum of money to work for you in a variety of ways. Many homeowners use their equity loan to pay for large and special expenses. Common uses of a home equity loan include starting a personal business, paying off costly home remodeling projects, financing your child's college tuition, and even managing expensive emergency medical needs. There are essentially no restrictions on what you can use your loan for.

Frequently Asked Questions about Home Equity Loans

How long does it take for my home equity loan to be approved?

Home equity loans take a little bit longer than traditional loans because the lender has to verify additional details about your current credit and home ownership situation. In most cases, however, your loan will be approved within 3 to 7 business days, and fully funded shortly thereafter. Be sure to double check all the information that you provide on your loan application before you hit the submit button, because any errors or inconsistencies may delay the speed that you can receive your loan disbursement.

I currently have a specialized type of mortgage, can I still apply for a home equity loan? 

Your mortgage type and payment schedule can greatly affect the amount of home equity loan that you're eligible for. For instance, if you're currently paying off an interest-only loan, you likely haven't amassed enough equity in your home to be eligible for an equity loan. You will generally be able to borrow any amount of equity beyond the first 25% of your home's value. If you have a variable rate mortgage, or a variety of other alternative-model loans (beyond the traditional 30-year fixed), you are likely able to tap in to a large portion of your home's equity.

What are the terms and rates of your home equity loans? 

Each loan is individually tailored to your specific situation, so it's difficult for us to tell you exactly how much you'll pay each month, or what rate you'll be eligible for. Believe it or not, contrary to current media reports interest rates on 2^nd mortgages and home equity loans are still at traditionally low rates, so your loan may be more accessible than you think. If you're not certain what exactly you'll be eligible for, because of inconsistent mortgage payments or credit blemishes, apply online right now and you'll be provided with the best rate possible for your specific situation.

Home Equity Loan Success Stories

“My wife and I had always wanted to remodel the kitchen and add on a new breakfast nook, but after talking to the contractor, we didn't think we'd be able to afford it. Fortunately, my buddy Frank recommended that I check out my home equity loan options online, and I'm glad I did. We were approved for our loan within a couple days, and the loan was at a rate even lower than I expected. Our home is now much more like the dream house that we set out to buy several years ago. Thanks!” ~ Barry W., Newport, Rhode Island

“When my mother came down with a pretty rare condition, I was only concerned for her health. After a few months and thousands upon thousands of dollars of medical bills, I knew I would have to do something. After searching online, I decided to try your home equity loan, and I was surprised by how easy it really was. Our loan specialist called because I had accidentally put some details in wrong, but he was very courteous and after explaining my situation he even put a rush on our approval. I didn't realize it could be this easy. My mom is doing much better, and it's much easier to care for her knowing that the hospital's bills are taken care of.” ~ Janine T., Cheyenne, Wyoming