A Home Equity loan is in most cases a Second Mortgage, meaning that you already have a first mortgage.  At Home Team we

offer two types of Home Equity Loans, and they can even act as First Mortgages if your home is Free and Clear of any liens.

HELOC: Home Equity Line of Credit

This product allows the most flexability since you are allowed to pay it down and use the equity again.  Additionally,

the payment is based on the interest only due and you are not required to pay anything to principle monthly.  You

can also use a debit card or checks to access your funds when needed.

HELoan: Home Equity Loan

This is a fixed rate product with a fixed loan term, much life a first mortgage, but with a higher rate.