If you need help with expenses, a home equity loan or second mortgage allows you to borrow against the value of your home to finance the expense. You can use the cash from a home equity loan for whatever you need:
- College education
- Credit card debt consolidation
- Down payment on a second property
- Home repairs/renovations
The loan process is similar to a first mortgage. You will receive the money in a lump sum, and you will make monthly payments of a set amount over a fixed period of time. Typically, you will continue to make your original mortgage payments along with payments on the home equity loan. Interest on the loan may be tax deductible*.
* Consult your tax advisor
We can tell you more about our home equity loans and home equity lines of credit.
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What Our Customers are Saying
It was a pleasure to work with Milagros Crespo and team. The most rewarding thing about the process was to help our clients achieve their goal in finding their dream home. And thankful to Trident Mortgage for assisting our client with a first time homebuyer program that helped them save $10,000 in closing costs.~ M.R.