BD Nationwide Mortgage provides a comprehensive guide for outlining various types of home equity loan products. Our lending team will help you consider both fixed and variable interest rate loans for purposes of getting cash out, loan refinancing, consolidating debts and purchasing a new home.
Key Home Equity Factors
Combined Loan to Value (1st and 2nd mortgage balance -Divided by Property Value
Credit Scores (what are your three fico scores?)
Debt to Income ratio (Take your monthly income -Divide it by your total obligations monthly.)
Fixed Rate Home Equity Loans Home equity loans are second liens with fixed interest rates. The fixed rate equity loans mortgages offer a lump-sum with fixed payment schedules. (10, 15, 20, 25 or 30 year fixed rate second mortgage). In today's volatile market, most experts suggest the fixed rate home equity loan because they have fixed terms and rates offering a hedge against inflation.
1st mortgages and equity loans can be refinanced together can significant increase your cash flow.
125% Home Equity Loans Check out the 125% loans that require no equity in your home. These 125% loans are second mortgages that enable you to exceed the value of your house. Fixed rate equity loans up to 125% combined loan to value. No equity in your home is required! First Time home-buyers OK! Credit Rating: Good or Excellent. Key qualifiers: residual income, credit score, and full documentation.
Home Equity Loan Company
Find out what loans Nationwide has that can benefit you. Learn more about our financing strengths.
Equity Debt Consolidation
Eliminate your adjustable interest rate account and consolidate into a fixed interest 2nd mortgage.
Interest Rates The rates for equity loan programs change daily so it is important to always get the updated rates for possible interest reduction opportunities.
Equity Loan Refinancing Consumers have found refinancing their credit line to be one of the quickest ways to save money and gain peace of mind with a fixed interest payment.
Loans behind Deferred Interest Amortization It is almost impossible to get a home equity line or loan if you currently have a payment option 1st mortgage. Nationwide is one of the last companies that still offer home equity financing behind negative amortization liens.
Bad Credit Home Equity Loans
We offer sub-prime home equity loans for homeowners who have less than perfect credit and who may still be hindered by low credit scores.
Home Equity Line of Credit
Sometimes homeowners do not know exactly when they will need to access money. Whether you are considering home improvement financing or just want to be able to get money in case of an emergency, a home equity line of credit may be the solution you have been searching for.