Home Equity Loans FAQs

Why would I take out a home equity loan?
Are there any application or approval fees?
What equity loan amount do I qualify for?
How much equity do I need to qualify for a home equity loan?
How long does it take to get the cash to me?
What loan term options do you offer for home equity loans?
How much money can I borrow?
Is there a penalty for paying off my home equity loan early?

Why would I take out a home equity loan?
Customers have told us as many reasons for getting a home equity loan as the number of loans we've funded. You may choose to use an equity loan for home improvements, to buy a car, pay college tuition - or whatever you want.

Because home equity interest rates are typically lower than credit card rates, it may make sense to pay off your high interest debt with your equity loan. And, the interest payments on home equity loans are tax-deductible. Your tax advisor can give you the scoop on the tax benefits an equity loan can provide.

HomeLoanCenter.com offers flexible equity programs where you can borrow up to 125% of the value of your home. Tell us what you want an equity loan for, and we'll find a good value for you.

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Are there any application or approval fees?
No. HomeLoanCenter.com does not charge an application or approval fee for any of our loan programs. You're free to browse, research, and apply at your convenience.

What equity loan amount do I qualify for?
The amount of equity you can borrow depends on a couple of factors. We'll check your home's loan-to-value (what you currently owe versus its value), your credit and income. With HomeLoanCenter.com's flexible home equity programs, chances are you'll find the loan that's right for you.

How much equity do I need to qualify for a home equity loan?
Unlike some lenders, HomeLoanCenter.com gives you options. We offer home equity loan programs where you can borrow up to 125% of the value of your home. If you want to find out how much equity you have, use our home equity calculator or call one of our Equity Specialists today.

How long does it take to get the cash to me?
In just a few minutes online or over the phone, we can get you pre-approved for your loan. All we need after that are a few verification documents, and we'll start your loan process right away. In most cases, we can close your loan in as little as 10 days! As soon as your loan closes, we will overnight your check or wire the funds to a specified bank account. Apply for a Home Equity Loan

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What loan term options do you offer for home equity loans?
HomeLoanCenter.com has a strong selection of loan and payment terms to suit you. You could qualify for one of our fully amortized and interest only payment options with flexible terms of up to 30 years, or maybe one of our fixed-rate programs is more in line with your needs. With the variety of programs we offer, our equity specialists can help you figure out which loan program and loan term is right for you.

How much money can I borrow?
HomeLoanCenter.com funds equity loans in the range of $15,000 to $500,000 upon qualification. If you want a loan apply online or call one of our equity specialists today to find a loan that's right for you.

Is there a penalty for paying off my home equity loan early?
You won't pay a prepayment penalty on any HomeLoanCenter.com equity line of credit product. Fixed equity, or installment loans can be assessed a penalty of up to six months of interest payments if the loan is prepaid within the first three years of the term. If you have questions about pre-payment or how equity loans work, look through our FAQs or call one of our equity specialists today.

Loans: Mortgage Refinance | Home Loan | Adjustable Rate Mortgage