Equity Loan Facts

Home equity loans are second mortgages.

You can usually get approved for a home equity loan even if you have bad credit.

They are most often used for home improvements, car purchases or to consolidate credit card and other high interest rate debt.

All interest paid on a home equity loan up to $100,000 is usually tax deductible (check with your accountant to make sure).

You can borrow more than your home's worth (up to 100%) depending on your credit and what state the property's located in.

Beware of balloon payments. Most people avoid balloon payments, so remember to ask your lender if the loan you're interested in has a large balloon payment.
 

Randy Reed - Senior Loan Officer

 "Your Preferred Mortgage Partner since 1991"

(303)809-LOAN(5626)

Go to: Home Page

Email: randy.reed@sheamortgage.com

Equal Housing Lender. © 2005 Shea Mortgage Inc., 155 Inverness Drive West #100 Englewood, CO 80112. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved.