HELOC or HELOAN. Get Cash You Need.
Without Refinancing. See how a Home Equity Line of Credit (HELOC) or Home Equity Loan (2nd mortgage) can be a better option for tapping into your home’s equity.
A HELOC is a line of credit that is secured by your home, giving you a revolving credit line to use at your will. It can be used for large purchases such as renovations, tuition, or emergency expenses.
Similar to a cash out refinance, a home equity loan will provide you with a lump sum of cash. It acts as a 2nd mortgage, where a cash out refinance transforms your first mortgage into a completely new mortgage.
This new product out for people that have a great interest rate, but wish they could re-finance to get more money to live right now. Our HELOC or HELOAN (second Mortgage) can help with that. It can be fixed rate and up to 90-95%. See graph blending a $300,000 mortgage with a $150,000 fixed for 30 years HELOAN!!
Call Scott Underwood with Reverse Mortgage Alabama and SMG mortgage for more information at (205) 908-2993 or (888) 220-0393. My email is Scott@ReverseMortgageAlabama.com. Covering all of greater Birmingham such as Vestavia, Hoover, Chelsea, Trussville, Mountain Brook, Homewood, McCall, and Heuytown.
