If you want to free up some financial resources, then a home equity loan might be a good option for you. At CA Mortgage Group, we can help with your home equity loan, to achieve a short or long term goal. A home equity loan allows homeowners to use equity in their house as collateral. You have the option of a closed end loan or open end loan. These are commonly referred to as a second mortgage as well. They usually have shorter terms than regular mortgage terms, making them the perfect loan for a range of solutions.
Home equity loans create a lien against your property which reduces the equity in your home. Ultimately, this helps you free up money for other financial needs. The amount of loan you apply for will depend on your home’s value, which the lender decides. To find out the amount of money available to you, you will need to apply and that process is quick and easy.