|
Home Equity Loans/Credit Lines
Put your house to work
Once you've built equity in your home, it makes good sense to put your house to work for you. That's easily done with our home equity loans and home equity lines of credit. Either way is a great way to borrow for home improvement, a new car, bill consolidation, your children's education, or simply to give you the peace of mind that comes from knowing you have money available in case of an emergency. National City Mortgage offers the home equity loans and lines of credit provided by its affiliate National City Bank.
The main difference between the two products is the way you access funds.
The other difference is why you need the funds:
-
A home equity line of credit empowers you to use funds when you want, for whatever reason and it eliminates the need to apply for a loan every time you need money.
-
A home equity loan is ideal if you need a set amount of money for a specific purpose. It offers the security of equal monthly payments with a fixed interest rate, and the comfort of only borrowing what you need.The reasons are clearMore people are choosing home equity financing for their borrowing needs.
The reasons why are clear:
-
Applying is easy and takes little time.
-
Interest rates may be lower than other forms of credit.
-
The interest you pay may be tax deductible. (Consult a tax advisor regarding the deductibility of interest.)
-
The money can be used for many purposes
|
