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No Cost Home Equity Loans                                                                                                                             

No cost home equity loans have a floating interest rate tied to the Prime Rate and allow you to take home equity out of a property. The normal closing costs are paid by the lender in return for a slightly higher rate. The rate increase is generally no more than .25% You incur interest costs only on the money taken out. Interest only No Cost Home Equity Loans will lower your payment. For difficult to verify income, stated income No Cost Home Equity Loans are available. As always, please feel free to email me with any specific questions on no cost home equity loans

A major advantage of no cost home equity loans are that your interest costs are often tax deductible. A comparison between the after tax costs of home equity loans and any consumer loans should be done before any major purchase. Please give me a call if you need help with the calculation.

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

Common uses of No Cost Home Equity Loans

• Debt Consolidation Home Equity Loans. 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 HELOC 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 home equity loans

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

I have included a page on documentation requirements.

We offer you the ability to qualify and close into several home equity loans 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 home equity loan 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.

New! View my Wealthbuilder presentation and learn the safe way to manage your debt and fund your retirement.

I hope the information on this page was useful to you. Please scroll down to view my Mortgage Market Guide. It is a weekly publication explaining the financial markets from a consumer's perspective that is available on this website or by email subscription. I have nearly 8,000 subscribers today and would be happy to have you as well. Your email address will never be used for any other purpose.

Prequalify for your No Cost Home Equity Loans