Home Equity Loans
Make Your Equity Work For You
A home equity loan from CrossCountry Mortgage, Inc. can provide you with cash when you need it. Similar to a HELOC, a home equity loan lets you borrow against the equity in your home to receive a lump sum loan.
What Are The Benefits?
- A fixed interest rate that doesn’t change, so you always know what your monthly payment will be.
- A variety of amortization periods that let you pay back your loan with favorable terms and conditions.
- A solution for those with imperfect credit to get access to additional funds.
- May be an ideal solution for single projects, such as a kitchen remodeling.
- Interest paid may be tax deductible depending on your situation and the state in which you reside. Not all states may permit this deduction. Consult a tax advisor to make sure you’re eligible.
What Are The Features?
- A variety of amortization periods
- More choices for individuals with imperfect credit
- Fixed interest rates available
Generally speaking, your credit history and score don’t have a major effect on obtaining a home equity loan because your home secures the loan. Equity in your home will be a key component in determining your available credit. Keep this in mind when considering a home equity loan. Failure to pay could damage your credit standing and result in the loss of your home through foreclosure. One of our licensed loan officers can help you to understand home equity loans and their requirements. Contact us today to learn more.
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