What is a home equity installment loan?

Answer Home equity installment loans are commonly referred to as second mortgages. A homeowner secures the loan using the existing home equity without having to refinance the primary mortgage.AdvantagesA ... Read More »

Top Q&A For: What is a home equity installment loan

What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »

Is a home equity loan considered a second home loan?

A home equity loan is a secondary mortgage against the equity in your home. The terms of the loan, such as the interest rate and the length of the loan, are normally different from your primary hom... Read More »

Can You Get a Home Equity Loan If You Have a USDA Home Loan?

The United States Department of Agriculture (USDA) has a Rural Development arm offering direct and guaranteed home loans. In each scenario, the USDA offers to assist homeowners with the expense of ... Read More »

What is a closed end home equity loan?

A home equity loan is a type of borrowing, where you pledge your house as collateral to guarantee repayment. In a closed-ended loan, you receive money in a lump sum and make payments for a specific... Read More »