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The Home Equity Loan Advantage

If you’ve built equity in your home and you need money, you’ll want to consider the advantages of a MortgageEase Home Equity Loan. Since terms and rates are usually very attractive — lower than credit card rates — a home equity loan is probably the best money you can borrow! You’ll also have complete flexibility in how you spend the loan. Buyers will use this kind of loan in order to avoid paying private mortgage insurance (PMI) and to keep a primary mortgage within conforming range, which keeps their interest rate lower

Also called a ‘term loan’ or ‘second mortgage,’ a home equity loan is a traditional means of borrowing with a fixed rate and term, along with a fixed monthly payment over the life of the loan. Borrowers have a choice in loan terms— 5, 10, 15, 20, and 25-year loan terms available. So you can choose a term that meets your financial plans and objectives — and your lifestyle!

Here are extra advantages of home equity loans for borrowers:

Reduce tax liability

  • Usually, interest paid on a Home Equity Loan is absolutely tax-deductible, while interest you pay on credit cards or other revolving loans won’t qualify as a tax savings. Consider the tax advantages—you may want to check with your tax consultant to see how this traditional loan can and increase your tax savings.

Reduce debt

  • Reduce debt and monthly payments with a Home Equity Loan. Pay off high interest rate credit cards and consolidate. Reduce your bills hassle—you’ll save time and money and simplify your financial management when you consolidate debt into one single payment.

Reduce your rate or reduce loan costs

  • If you want to save up-front costs, you can choose a no-points or no-fees option. You will have a slightly higher monthly payment. Or, lending laws in some states give borrowers another option. Pay fees up front and structure loan terms for a lower interest rate. Consequentially, you'll have lower monthly payments over the life of the loan.

Whatever your financial need, at MortgageEase it’s a mortgage made easy

Your MortgageEase consultant makes the Home Equity loan application quick, easy and convenient. Your documents may be submitted by e-mail, phone and fax, and you can count on us to see it through.

Quick Application: Give Answers, Get Pre-Qualified

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