Tap into Your Home Equity

	Shopping for a mortgage? We'll be glad to talk about our many mortgage solutions! Call us at (713) 255-5587. Ready to begin? Apply Here.

Have you considered tapping into your home equity to send a child off to college, or remodel your home? A fixed- or adjustable-rate loan that is secured by your home equity is called a "home equity loan." Similar to your first mortgage, you borrow a specific amount to be paid back monthly over a period of time. You can use the terms "home equity loan" and "second mortgage" to mean the same thing.

Home Equity Loan Specifics

You'll be comfortable with the process as it is a lot like the process toward your first mortgage. Some distinctions are though, that the rate of interest with a home equity loan is generally more (with tax deductible interest) with smaller closing costs.

You'll have to provide salary documentation and have a reasonable credit score to qualify for a home equity loan. To figure out your home's market value, your lender will require a home appraisal. To check on your home equity/second mortgage loan choices, call us at (713) 255-5587.

Have questions about your home equity? Call us at (713) 255-5587. It's our job to answer home equity loan questions, so we're happy to help!