Home Equity Loans/Second Mortgages
Over the years, Vantage Mortgage Brokers has been known to offer very competitive first-lien mortgage loans through wholesale lender competition and a wide array of options. Since we’ve helped secure so many first-lien mortgages with very low-interest rates, most understandably do not wish to refinance and lose these lower rates. Life can bring additional needs, however, such as debt consolidation and home remodeling needs.
Second liens (home equity loans or second mortgages), generally have not been competitive in the wholesale lending channel and we have referred out to local banks or credit unions.
We are happy to offer our clients ‘fixed-rate’ home equity loan options with a few program highlights:
- Fixed-rate term structures of 10, 15, 20, or 30 years
- Eligible properties may not require a full appraisal with an accepted AVM (Automated Value) internally
- Loan amounts from $50,000 (minimum) to $500,000
- Up to 85% of the home value (CLTV)- Combined Loan To Value including first mortgage
- Primary Residence Only
- Very competitive ‘fixed’ interest rate options to consider instead of these variable high-cap HELOCs (Home Equity Line of Credit) most are offering
- Immediate access to funds
- Additional spending options
- Lump-sum disbursement
- Interest may be tax-deductible
- Fixed interest rate and fixed monthly payments
- Can be used to consolidate debt, pay for college tuition, etc.
- Potential savings on interest and lower monthly payments when used to retire expensive debt
Contact a VM Broker today for any qualifying questions and to run a benefit analysis or obtain a quote!