We are still arranging Home Equity Loans.
In addition to purchasing or refinancing a home, borrowers need credit for things like home improvements, and may benefit from debt consolidation. Understanding those needs, and how home equity financing applies, can help borrowers in these important ways:
With many homeowners staying in their homes longer and looking for cash-out for improvements or other needs, we can offer choices to meet their needs, including cash-out refinances and stand alone home equity financing.
If a customer’s existing 1st mortgage has great terms which makes refinancing impractical, home equity financing may make more sense.
Blended Rate
Combining a conforming or high balance conforming 1st mortgage with home equity financing is an example of how you can leverage our flexible products to structure an attractive alternative to a first mortgage-only solution. It can allow your customers to:
- Benefit from a lower overall rate
- Take advantage of lower LTV or loan amount pricing tiers
- Avoid cash-out pricing adjustor’s on the 1st mortgage
- Have flexible access to their available equity
Cash-out transactions
If a customer’s entire cash-out need is not immediate (such as for paying for education expenses), a home equity line of credit allows them to borrow what they need when they need it.
With the Prime Rate still very low, now may be a great time for homeowners to look at options for home equity financing.
Think Of RealPro Financial First…And For A Second
Contact me with any questions. Thank you!
has written 13 articles on RealPro Financial
