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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I heard about Trident Mortgage Company from a good friend. She recommended Alex and told me that he would be honest with us and very helpful. She had bought and sold two houses with him and the company. My friend was not mistaken, the whole team was on top of everything throughout the whole process. They were all quick to respond to all my questions and had all the paperwork on the days that were promised. I love my new home and am extremely happy that I listened to my friend!~ C.R.