What Are Home Equity Loans?
Sometimes, when you're thinking of refinancing your existing
mortgage, considering Home Equity Loans may be more beneficial.
Home Equity Loans are second mortgages that can be structured in
two different ways:
Home Equity Line of credit
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A line of credit works like a credit card.
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 Lots of
flexibility
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Interest-only
payment based on outstanding balance
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Tax deductible
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Installment home equity loans
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With an installment loan you select a fixed pay off period.
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10 years
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15 years
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20 years
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RLCA also offers Reverse
Mortgages programs. Reverse Mortgages offer owners 62 years of age and
older to borrow against the equity in their property - but require no repayment
for as long as they live in the property! See our
How Does a Reverse Mortgage Work? section for more information.
Life doesn't always go the way you planned. RLCA specializes in
helping people who may be experiencing difficulties because of credit problems,
income verification, job history or health. We help these people find the right
financial services to meet their individual needs by combining better rates,
terms and lower total costs.
RLCA provides a wide range of home
purchase and refinance mortgage services
to specifically meet your goals and needs. And because we are a
direct mortgage lender, we save you money and lower your total overall
costs. Our goal is to create an ongoing relationship of trust and communication
by being sensitive to your situation and taking the time to truly understand
what you're trying to accomplish.
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