Home Equity Loan & Home Equity Line of Credit
  • November 20, 2008
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    • Home Equity Loan

    Superior Lending provides second mortgages and home equity loans. Two different types of home equity products. The most common is a home equity loan or second mortgage; as it is sometimes called. The second is a home equity line of credit(HELOC). Both mortgage loans are secured by the equity of the borrower's home. This money can be used to avoid mortgage insurance when combined with a first mortgage, remodel your home or consolidate outstanding debt.

    Home equity loans have a fixed rate and provide the borrower with a lump sum of cash. HELOC's have a variable rate and provide the borrower with a reusable line of credit similar to a credit card. Financing of up to 95% is available with both home equity products. Home equity programs are available for: