All the information you need to make an educated decision
Mortgage Refinance and Other Loan Options
When it comes to getting equity out of your house to consolidate or eliminate debt, you have many options. It is important to understand your different mortgage options to make an educated decision. DebtHelp is here to help make this choice easier through our comprehensive mortgage guide.
Mortgage Refinance
A mortgage refinance will lower the interest rate on your current mortgage, and also will allow you to use equity to pay off debt if you choose to do so. This is a very common choice among homeowners. More Information about Mortgage Refinance
Second Mortgage
A second mortgage allows you to take out a second loan against your house, which can be used to pay for anything. DebtHelp.com customers commonly use second mortgages to pay off debt, because the rate on the loan is generally much lower than their debt interest rate. More Information about Second Mortgage
Home Equity Loan
A home equity loan is taken out against your house. It is not, however, a second mortgage, and it has a shorter payback period than a mortgage as well. Similar to a personal loan, a home equity loan is a secured debt against your house that pulls from the equity that you have saved. Since home equity loans tend to have low interest rates, they are a good option for paying off high-interest debt. More Information about Home Equity Loans
Home Equity Line of Credit
A home equity line of credit is similar to a home equity loan, except that you are not obligated at any point to use the line. Whereas a home equity loan requires full repayment even if only a portion was needed, you are only required to repay the used portion of a home equity line of credit. More Information about Home Equity Lines of Credit
FHA Secure: Solution to an ARM Mortgage Adjustment
If you have an ARM Mortgage that is causing you problems with outrageous adjustments and increased payments then the FHA Secure program may be a great mortgage program to use to refinance out of your existing loan.
Five Things You Should Know About Home Equity LoansFive things to know about home equity loans that will help you make decisions about a second mortgage
Where Have All The Lenders Gone? Finding a Refinance Loan TodayUsing online tools can make it easier to locate a mortgage refinance lender and competitive refinance rates
Ready, Set, Go: Three Steps for Getting a Jump on the Refinance OpportunityThese three steps can help home owners get ready to take advantage of an extraordinary drop in refinance rates
"Should I Refinance My Mortgage?"Understanding how calculate your income is a very important to qualifying for a refinance or to purchase a home.
The advantages of using your local credit union to refinance your mortgage
Local credit unions increasingly are popular alternatives to traditional banks. While banks are privately owned,…
Bad Credit Mortgages and Mortgage RefinanceObtaining a mortgage can be a very daunting task for even the most credit-conscious of consumers, so for those with poor credit…
Should you wait for rates to adjust before refinancing an ARM?Adjustable rate mortgages (ARMs) are loans that begin with a low interest rate and adjust eventually to a much higher rate. This higher rate normally corresponds…
Different Types of Mortgage Loans: Part IIFixed-Rate Mortgages v. Adjustable-Rate MortgagesFixed-Rate MortgagesFor the borrower with a fixed-rate mortgage, the interest rate for monthly…
All you need to know about 50-year Mortgage Home LoansWhen the time comes to purchase a home, you probably are not thinking about paying it off for the next 50 years of your life, but this is exactly what some…
