Second Mortgage – Equity Lines of Credit in San Diego

A fixed rate second mortgage is a conservative way to use the equity in your home. Their terms range from 15 to 30 year periods. The funds from your second mortgage are generally received in a lump sum - all at the close of escrow.  Repayment is based off of your principal and interest costs.   Being a fixed rate loan, a second mortgage allows borrowers to budget monthly expenses without the worry of the rate adjusting.

Home Equity Lines of Credit – HELOCs

Both fixed rate second mortgages and equity lines of credit can help you to pay off debts or make other investments that can be beneficial without changing the status of your first mortgage.  Credit card debts, car loans, and other high interest rate obligations are often better managed by using your home’s equity to consolidate into one low interest rate payment.  In some situations you are able to write off the interest from your taxes because the debt is secured by your home, which is not allowed for other debts or credit card interest.  Our San Diego mortgage experts can help guide you to financial freedom when we assist you with your second mortgage or home equity line of credit in San Diego , or anywhere in California.