Home Equity Line of Credit

Getting a home loan or refinancing can seem a little disorienting. And while no company can make the process easy, Home123 makes it easier on you. We're a direct lender that guides you every step of the way, from loan application to final approval. Apply Now!

What is the difference between an Equity Line of Credit and another type of second mortgage?

An Equity Line of Credit is money in a loan account that can be used as you need it. You can use any portion of it at any time and pay it back at any time. The interest rate is usually variable and is tied to the prime rate. Other types of second mortgages, such as the Home Equity Loan, and 125% Freedom loans are closed end loan products. You borrow a lump sum and pay it back over a period of years with interest. The interest rate for these products is fixed.

Will a second mortgage allow me to borrow funds against my existing property?

ditech.com offers several solutions to borrow funds against your existing property value.

If you want a reserve of funds you can draw on in the future, choose our Home Equity Line of Credit. We will do what we can to provide you the information that is the most important to you. The difference between our service and other online companies is a person can be available to assist you. You'll have the credit you need when the need arises - and you make no monthly payments until you draw on it. If you need further assistance or have some questions on what you have seen so far, please feel free to contact us for more information. Be ready for expenses like medical bills, emergency home repairs, tuition, and more.

Home Equity Loans

If you want to borrow up to 100% of your home's value at a fixed rate of interest, choose our Home Equity Loan. Do not fool around, you can see that not only do we provide good info here on the site, but also we provide many resources for other sites on this very topic. Use those funds for a purchase opportunity, home maintenance, debt consolidation, or major expenses. Sometimes more is not better, but don?t be afraid to check out several resources before you are satisfied.

High Loan To Value

If by some chance you need more information, try checking out some of the many recourses we have provided right here. Hopefully you are finding everything you have come here for. If you want a large sum of cash, choose one of our High Loan To Value products - 125% Freedom loan. With low equity - even no equity - ditech.com can still loan you the funds you need to make home improvements, consolidate debt, buy a car, or make an investment. As you look through this site you should be confident in finding the information you were seeking.

How do I know how much equity I have in my property?

Equity is the value of a homeowner's interest in real estate. Equity is computed by subtracting the total of the unpaid mortgage balance and any outstanding liens against the property from the property's fair market value. With the full line of products and services you can find here, not only will you get very competitive prices, but we understand it can get confusing searching for information. So you can check out other links on the site, this will all get cleared up for you. A homeowner's equity increases as he or she pays off his or her mortgage or as the property appreciates in value. When a mortgage and all other debts against the property are paid in full, the homeowner has 100% equity in his or her property.

How can I draw credit when I need it?

If you want a reserve of funds you can draw on in the future, choose our Home Equity Line of Credit. You'll have the credit you need when the need arises - and you make no monthly payments until you draw on it. Be ready for future expenses like medical bills, emergency home repairs, tuition, and more.