Home Equity Loans - DNJ Mortgage Cary NC

Home equity loan

Do you need to tap into your homes equity to pay for a home remodeling project or to pay off a credit card? A home equity loan is a fixed or adjustable rate loan that is secured by the equity in your home. With a home equity loan, you borrow a lump sum of money to be paid back monthly over a set time frame, much like your first mortgage. The terms home equity loan and second mortgage are often used interchangeably.

The process for a home equity loan is similar to your first mortgage. The closing costs are typically paid for by the lender/ broker, and although the interest rate is higher on a home equity loan, the interest paid is tax deductible.

To qualify for second mortgage, your credit must be in good standing . An appraisal will sometimes be required on your home to determine the home's market value.

About DNJ Mortgage

DNJ Mortgage is a locally owned and operated mortgage broker that has been in business for 21 years. We specialize in low and no closing cost loans. We are able to provide this service to our customers due to the volume of business that we originate on a monthly basis. We have strategic relationships with several national banks that offer us steep volume discounts which we then pass on to our customers. With the no closing cost loan, we are actually paying your closing costs and not rolling them into the loan.

DNJ Mortgage's corporate office is located in Raleigh, NC with an additional office in Charlotte, NC. DNJ Mortgage services all of North Carolina as well as Colorado.