If you are seeking to remodel one or more rooms in your home, pay off credit card bills, take that dream vacation, buy a car or help pay for college tuition, you have a good reason to seek a home equity loan. A home equity loan is a second mortgage on your home.
Since home equity line of credit loans are a type of mortgage, they share lower interest rates (via “interest only” payments during the draw period) as well as the tax-deductibility advantages of mortgages. You can generally borrow up to 100% of your home's equity and, in some situations, up to 125% for virtually any purpose, and, in most cases, 100% of the interest paid each year is tax deductible. Home Equity Loans often feature NO closing costs associated with this product. Rates on Home Equity Line of Credit loans are based on the Prime Rate (listed daily in the Wall St. Journal).
to apply for a First Empire Funding Home Equity Loan.
