 |
Home Equity Accounts
| Nationwide is a premier home equity broker who specializes in the home equity market. Our home financing team offers homeowners free quotes and advice for second mortgages, and home equity lines of credit with no annual fees for cash out, investing, home improvements or debt consolidation. Our home equity accounts feature interest only payment options for both 2nd mortgage loans and credit lines regardless of the draw amount. These home equity accounts allow you to draw funds, borrow and re-borrow, without having to start a new loan process every time you need to access cash. |
Money is waiting for you anytime in your home equity account! |
With mortgage interest rates dipping slightly it could not be a better time for you to add a home equity account. Interest rates have held pretty steady in recent times, many people have been refinancing home equity accounts.
According to a recent interest.com survey:
- 30-year fixed-rate loans averaged 6.42%.
- 15-year loans fixed-rate averaged 6.10%.
- 30-year jumbo loans (for more than $417,000) averaged 6.67%.
 According to Interest.com, "introductory rates for adjustable-rate mortgages (ARMs) edged up slightly, but remain a half-point or even three-quarters of a point more expensive than last fall." Those 30-year loans that offer a fixed rate for:
- One year, averaged 5.92% this week.
- Five years, averaged 6.24%.
Refinancing home equity loans is similar to refinancing a first mortgage and can make a lot of sense if your first mortgage rates are low. And, a line of credit refinance could save you money because fixed rate second mortgages typically offer a rate currently averaging around 6.5%, compared to the adjustable HELOC rate after its introductory period expires.
HELOC rates are tied to the Prime rate. So, every time the Fed fund rates rise, so will the home equity credit rates. On top of that, there is no annual rate adjustment cap for a HELOC, and the maximum rate is 18% (except in North Carolina, where it's 16%). Finally, HELOC rates don't reflect points or other upfront costs like other loans do.
Refinancing home equity accounts to a fixed rate second mortgage could not only save money by lowering monthly payments, but also give you piece of mind that your payments will remain fixed for the entire term of the loan.
With the current lowered interest rates, you could refinance high rate credit cards and your home equity line of credit into a single fixed rate consolidation loan and pay off credit card debt. Consolidating revolving debt will help raise your FICO credit scores, if you don't use the cards again, but keep the accounts open. And, finding a mortgage lender that offers secure loans for debt consolidation is easy, especially over the Internet.
Finding a 2nd mortgage with bad credit can also be easy, if you work with the right lender. You could go on the internet and search aimlessly for bank that offers you a home equity account, but you may run into a lot of obstacles that frustrate you and ultimately waste your time. Nationwide has been specializes in home equity loans for over a decade now, and their alliances with the nation’s premier equity lenders will be able to provide you the best possible home equity account. Their team of professional loan officers will take the time to explain the pros and cons of a fixed and adjustable rate second mortgage.
If your credit scores are low, you will need to get approved with a non-prime credit lender who will be able to provide secured debt consolidation. Although the interest rates you pay will be slightly higher than those of someone with good credit, you will still have lower payments on your secured debt consolidation loan than you do on your credit cards. Fixed rate debt refinancing makes sense even if you have bad credit. Talk with a debt consolidation lender today to find out about debt consolidation loans for which you may qualify.
| Home Equity Loan Accounts |
 |
| • |
Stated Income Home Equity Credit Lines |
| • |
125% Home Equity Loans and Rates |
| • |
Fixed Rate Second Mortgages |
| • |
Debt Consolidation Loan Refinancing |
| • |
Home Equity Credit Lines to 100% |
| • |
Low Interest Only Home Loans |
| • |
No Mortgage Insurance Required! |
| • |
Convert Adjustable Rate Loans to Fixed |
| • |
80-20 Home Purchase Loans |
| • |
Revolving No Cost HELOC’s |
|
|
|
|
|
