Home Equity Loans Guide

Home Equity


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	The LowerMyBills Insider's Guide to...

Home Equity Loans

Home Equity Basics

Understanding the basics of home equity is the first step to choosing the right loan for your needs.

Introduction

LowerMyBills designed this guide to help you choose the right loan and get the most out of the loan you select. All loans are not created equal. It pays to get the facts!

Know Your Loan

Home Equity Loans are often referred to as second mortgages because they are secured by the equity that you have in your property. Your first (original) mortgage probably has a term of 30 years, while Home Equity Loans usually have a term of five to 15 years. Common uses for Home Equity Loans include debt consolidation, home improvements, and paying for tuition.

Because it is a secured loan with the property as collateral, a Home Equity Loan generally has lower interest rates and tax advantages that aren't available with a credit card. For the same reason, Home Equity Loans can be risky, because defaulting on payments puts the property at risk of foreclosure. Homeowners must also be prepared to pay the balance of the loan or line of credit when they sell their home.

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DOWNLOAD A COPY OF THIS GUIDE IN .PDF FORMAT

Other Sections Within this Guide

Introduction
Types of Home Equity Loans
What Type of Loan is Right for Me?
Still Not Sure? Ask Yourself These Questions.
How Much Should I Borrow?
Interest Rates and Other Charges
Borrower Beware!
Glossary of Common Home Loan Terms
Home Equity Worksheet

LowerMyBills in the Media

Looking for opportunities to save money on more financial services than just home equity loans? Continue shopping at the Debt Consolidation Loan Directory for services like: a debt consolidation loan, auto insurance coverage and debt management programs. Also, learn how to make better personal finance decisions in the consumer information library.

LowerMyBills, Inc. is not acting as a lender or broker. The information provided by you to LowerMyBills is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender.

HomeEquityLendingInfo.com is a web property of Infinamic, Inc., an Indiana-based marketing and web development firm. Infinamic, Inc. is not a mortgage broker or lender, nor does it engage in mortgage lending, brokering or collection of borrower information. Furthermore, Infinamic, Inc. does not share in the origination fees or points charged by any lenders or brokers. Infinamic, Inc. operates HomeEquityLendingInfo.com as an affiliate marketing portal for LowerMyBills, Inc. and derives revenue strictly from affiliate marketing fees.