For a Home Equity Loan you can get approved and receive the full amount at loan closing. You'll have a fixed rate and can borrow up to $400,000 for 10 or 15 years.
For a Home Equity Line of Credit you can get approved for a total amount, use the funds as needed, and only pay interest on the amount outstanding at any given time. You'll have a variable rate and can borrow up to $400,000 for 15 years.
With a mortgage accelerator loan, you can pay off your mortgage in as little as eight years.
Includes:
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You can use a reverse mortgage to get a lump sum payment, monthly payments, or line of credit. You get paid to live in your home.
If you are 55+ years of age, you may benefit from a reverse mortgage solution.
At one point or another most of us have been told we need to have a 20-percent down payment when buying a home. But with high amounts of student debt and other financial responsibilities, I see a lot of first-time homebuyers struggling to save that much money.
The good news is that if you find yourself in the position of wanting to buy a home and not being able to save 20-percent, there are other options to consider. Read More
