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Home Equity Mortgage                                                                                                                             

A home equity mortgage has a fixed interest rate and disburses at closing. Home equity mortgage products allow you to take home equity out of a property. An interest only Home Equity Mortgage will lower your payment. For difficult to verify income, a stated income Home Equity Mortgage is available. A Home Equity Mortgage with no closing costs is available as well. I am a mortgage broker specializing in home equity mortgage products and I am happy to answer any email questions you may have about your home equity mortgage

An advantage of the home equity mortgage is that your interest costs are generally tax deductible. A comparison between the after tax costs of the home equity mortgage and any consumer loan should always be done before any major purchase.

Our lenders can lend up to 100% of the value of your home but please understand that the interest rate will be somewhat higher if your home equity mortgage is over 90%(combined first trust and home equity mortgage) of the value of the property. Our lenders will allow up to a 50% Debt to Income ratio (DTI) on a home equity mortgage with good credit. Please see the link below for more information on qualification ratios.

Common uses of a Home Equity Mortgage

• Debt Consolidation Home Equity Mortgage. If your other debt is too much you may dramatically reduce your monthly payments. See the calculator below for an idea of how much you could save.

• Finance a Major Purchase. If a new car or boat is in your future, you may want to compare payments.

• Children's Education. Many people find a home equity mortgage the most logical way to pay for their children's education. Exactly what I did when my son went to college and I saved a lot of money compared to any other option.

• Property Purchase. If you are considering either an investment in income producing real estate or a vacation home, it may make more sense to unlock the equity in your home rather than move the cash from other investments which are doing well for you. Please see my pages on Investment Property or Vacation Homes for more information.

Learn more about the tax considerations of a home equity mortgage

Read more about Home Equity Mortgage Closing Costs

Learn about the differences between home equity loans and lines

I have included a page on how to calculate your qualification ratios.

I have included a page on documentation requirements.

Wet offer you the ability to qualify and close into several unique programs which accommodate borrowers with non traditional income or asset situations. 

* I have included a section on the new Cash Flow ARMS. A LIBOR based product which gives you complete flexibility in managing your mortgage.

The new Asset Manager is a creative program which gives you complete control over your mortgage as well.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.