Home Equity Loans (No Equity Required!)
you looking for a low-simple interest, tax-deductible loan?
you want to purchase a home or payoff your high interest credit card debt?
A-Debt-Consolidation-Loan.com resources for information about our home
your Home's Equity to Consolidate Your Debt
you know your home could help you consolidate your debt? Depending on your financial
goals, tapping in to your home's equity might be just the thing to do if you want
Eliminate compounding credit card bills
your total payment amount
your debt tax deductible
Consolidate all of your bills into one low
are a few different ways to access the equity in your home. You can refinance
and take cash out. With today's current interest rates this is an attractive option
(especially if you're paying more than 7.5% interest on your current mortgage).
Refinancing with a new mortgage loan would allow you to drop your payment and
pull money out with no money "out of pocket."
example, If your home is currently worth $250,000 and you owe $200,000, you could
still access up to $50,000 worth of home equity at a low fixed interest rate,
and because your LTV is still under 100%.
debt consolidation loan does not reduce the amount you owe. Instead, it reduces
the interest rate you pay. You will still need to keep your debt low, and if you
have extra money, save it, invest it, or pay off your mortgage loan early. If
you already have a great rate and just want to utilize some of the equity in your
home, get a home equity loan and borrow only the amount you need to access. Typically
interest rates for a home equity loan are a little higher than your first mortgage
because it is higher risk for the lender.
A-Debt-Consolidation-Loan.com lender can help you decide what home loan
type is best for you. We recommend if you have additional questions, discuss your
situation with your financial or tax advisor to determine if a debt consolidation
loan is right for you.