Home Equity Loans

Capstone offers first-class home equity services, too.  Your house is more than a home; it is a valuable investment.  Capstone provides a number of ways to put that investment to work for you.

 

A Home Equity Line of Credit (HELOC) allows you to take advantage of the untapped value in your home with low interest rates, access when you need it, and interest-only payment options. 

Traditional Second Mortgage Loans

If you’re thinking about a home equity line of credit (HELOC), you might also want to consider a traditional second mortgage loan. This type of loan provides you with a fixed amount of money, repayable over a fixed period.  In most cases, the payment schedule calls for equal payments that pay off the entire loan within the loan period.  You might consider a second mortgage instead of a home equity line, for example, if you need a set amount for a specific purpose, such as an addition to your home.

 

In deciding the type of loan that best suits your needs, consider costs under the two programs. Look at both the annual percentage rate (APR) and other charges.  Do not, however, simply compare APRs, because APRs on two loan types are calculated differently:

 

  • APR for a traditional second mortgage loan takes into account the interest rate charged plus points and other finance charges.
  • APR for a HELOC is based on the periodic interest rate alone.  It does not include points or other charges.

 

 

Capstone offers first-class home equity services, too.  Your house is more than a home; it is a valuable investment.  Capstone provides a number of ways to put that investment to work for you.

 

A Home Equity Line of Credit (HELOC) allows you to take advantage of the untapped value in your home with low interest rates, access when you need it, and interest-only payment options. 

Traditional Second Mortgage Loans

If you’re thinking about a home equity line of credit (HELOC), you might also want to consider a traditional second mortgage loan. This type of loan provides you with a fixed amount of money, repayable over a fixed period.  In most cases, the payment schedule calls for equal payments that pay off the entire loan within the loan period.  You might consider a second mortgage instead of a home equity line, for example, if you need a set amount for a specific purpose, such as an addition to your home.

 

In deciding the type of loan that best suits your needs, consider costs under the two programs. Look at both the annual percentage rate (APR) and other charges.  Do not, however, simply compare APRs, because APRs on two loan types are calculated differently:

 

  • APR for a traditional second mortgage loan takes into account the interest rate charged plus points and other finance charges.
  • APR for a HELOC is based on the periodic interest rate alone.  It does not include points or other charges.

 

 

 

Copyright © 2017 Capstone Mortgage Company, Inc.

  NMLS Company ID #1445; MA Broker License #MB1445


Copyright © 2017 Capstone Mortgage Company, Inc.

  NMLS Company ID #1445; MA Broker License #MB1445