Home Equity
Loans, Home Equity line of credit (HELOC), and Refinancing
Last Updated: 04/04/2005
Most
homeowners have seen an opportunity in the past five years
to refinance their home at least once because of low interest
rates. Even as interest rates begin to rise again, they remain
at historical lows. For example, a decade ago an interest
rate of eighteen-percent on a home loan was considered good.
Many first time home buyers have been able to make the leap
from renting to owning with a low fixed rate of interest on
their mortgage loans.
Those refinancing in
the past few years have taken advantage of low rates to switch
from a variable rate of interest to a lower fixed rate of
interest. Home equity loans have been increasingly popular
as well because of low interest rates. A home equity loan
is often a viable alternative to a cash-out refinance to pay
for home improvements or to eliminate higher interest credit
card debt.
If you need cash to make home
improvements or pay down high interest debts you might consider
either cash-out refinance or a home equity loan for your own
needs. Deciding between the two is a simple matter of consulting
a lending officer to see which one offers you the best rate
and loan term.
When refinancing and rolling high
interest debts into your home loan it is important to know
the tax implications. The IRS allows you to deduct interest
paid on your mortgage loan.Your feedback is important, so
please take a minute of your time to fill out our contact
us form to tell us what you like to see added to or changed
about our web site presence. If you have lending needs not
addressed here, send us your questions and we will do our
best to answer them in a timely manner.
Lending Expo Services
Last Updated: 04/04/2005
Home Equity
Loans and Refinancing now, will save you thousands in interest
expenses over the life of your mortgage loan at today's rates.
There has never been a better time for refinancing. When you
apply through our site we will perform a free search of our
database of lenders to find you the best price. First time
home buyer programs are available.
Home Equity
Loans are far and away today's most popular type of home loans.
But the benefit of lower rates means there are savings to
be made when financing any kind of a purchase. Whether you
are looking for home loans, a startup small business loan,
or you'd just like a credit report - take a minute to fill
out any of our free no pressure applications to find out what
we can offer you. Knowledge is power, find out what loans
you qualify for today.
Considering
refinancing? Our lenders compete to give you the best rate
on a refinance just like they do on home loans. If you have
made improvements in your credit or interest rates have dropped
since acquiring your home loan, apply today, there is no risk,
no obligation.
Refinancing
has only been on the rise for nearly the past five years as
homeowners have taken advantage of lower interest rates. To
refinance your home you replace your old loan with your new
refinanced loan. So long as you intend to stay in your home
long enough to offset the cost of refinancing, you will save
money every month you make payments after your refinancing
break-even date.
If you
have made improvements in your credit since the time of your
original home loan, you may be able to get a low rate home
equity loan or save money by refinancing. Rates are beginning
to make a rise, but improvements in your credit may still
mean refinancing is worth while. A
potential rate drop of one percent is significant enough to
consider refinancing. Our free refinancing calculator allows
you to estimate your break-even date for a refinance. If you
are considering a home equity loan you may be able to borrow
as much money as you have equity in your home.
Whether
you are refinancing or considering home equity loans (or a
home equity line of credit), our network of lenders will compete
to get you a low rate you will be happy with.
Reasons for Refinancings
There are many reasons to refinance in
addition to drops in interest rates. Improvements in your credit
may make it possible to get a lower rate or you may simply be
interested in switching from an adjustable rate mortgage (ARM)
to a fixed rate mortgage. The following are a hundful opportunties
of refinancings.
- Pay less in interest expenses over
the life of your loan by switching to a lower rate of interest
- Shorten your loan term from thirty
to fifteen years or from forty five to thirty
- Get the same mortgage payment over
the life of your entire loan by switching from an ARM to
a fixed rate mortgage
- Take cash out to pay for home repairs
and roll the new debt into your mortgage
LendingExpo Network
LendingExpo is a network of lenders and credit agencies licensed
nationwide for lending services. We have lenders who specialize
in government program loans such as FHA and VA. Lenders are
available that focus on poor credit as well as excellent credit
borrowers. If you are a mortgage lender interested in serving
our customers, you can join our mortgage
leads program once you are screened for history. All new
lenders are subject to a quality service guarantee probation
period. If you are a webmaster, you can also advertise with
us. Some of our advertising partners are listed here
for your convenience.
