Home Equity Rates

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Home Equity Rates
Get Today's Home Equity Rates and Lock into the Right Loan Before the Interest Rates Rise!

Home equity rates remain low and Nationwide can help you get info on prime rates for home equity loans, credit lines and second mortgages. Just like Wall Street, interest rates rise and fall. Home equity rates are no different in that respect, so it is imperative that you keep up to date on the latest trends with interest rates. Check today's home equity rates for availability for fixed, variable and interest only second mortgages and home equity lines of credit to maximize the lowest possible rates online.

BD Nationwide can match lenders with borrowers to determine accurate interest rates for second mortgages, home equity loans, home improvement financing and home equity credit lines. In addition, we now offer interest only rates for both fixed and variable interest rate options.

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If you are a savvy consumer seeking the lowest possible rates online, then our preferred lenders should be able to navigate your journey. They will help you find cost-effective mortgages at the lowest possible interest rate. If you are buying a new home or financing home improvements, many of our lending partners recommend taking out an interest only home equity loan that enables you to keep the credit available for when you need the funds. For debt consolidation or refinancing loans, we suggest locking a fixed rate equity loan with a fixed term.

As you know the Federal Reserve raised key interest rates several times over the last few years that may have effected your monthly payments for home equity lines of credit and adjustable rate second mortgages. It may be a good time to consider a fixed rate home equity loan so you can make your financial plans with an accurate budget that can be calculated with fixed payment term loans. Home equity rates are still at historical low levels, so lock into a prime rate today.

Why Refinance Your Home Equity Rates?

At least one in four variable-rate loans are due to adjust at any time. This has a lot of people worried about rate hikes, and rushing to refinance their HELOCs into fixed-rate home equity loans. Other homeowners refinance home equity loans to get better interest rates, particularly if their FICO credit scores have improved a lot since they got the loan.

Bank Rate gives this advice in their article "Refinancing a home equity loan": "Refinancing entails closing costs and other fees, so it's important to know whether lower monthly payments will offset that cost. Consider how long it will take you to break even. For example, if refinancing costs run you $2,500, and your payments are $100 lower each month, it will take you 25 months to break even." According to Michael Hess, a financing advisor with Smart Home Equity Loans, "Staying on top of the interest rate for your home equity line of credit can save you thousands of dollars.

If you're thinking about refinancing your second mortgage for better rates, the rule of thumb is to refinance if the new rates are at least 2% lower than what you're currently paying. Otherwise, you may end up actually paying more for the new loan than your old one. And, you need to consider how long you plan on staying in the home. If it's less than 25 months, you won't even break even on the loan. But, it may be worth it, especially if your current needs outweigh the need for long-term savings.

Compare lenders that provide the most updated home equity rates available online. Shop lenders that offer prime rates for second mortgages, home equity loans, mortgage refinancing and home equity lines of credit for A-paper, subprime, conforming and non-conforming.

Please complete this simple form to receive a personalized Home Equity rate request from one of our experienced loan officers. Once you have completed this request for a rate quote, your information will be sent to BD Nationwide. Professional loan officers from our preferred lenders will contact you by telephone or email.

 

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Please be aware that this is not an advertisement for credit as defined by paragraph 226.24 of regulation Z. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and no loans can be guaranteed as loans and rates are subject to change. Copyright 2001-2012, Nationwide Mortgage Loans. All rights reserved. Do not duplicate in any form Please note that interest can change without notice on home equity rates.