My Articles | About Us | Contact Us | Advertise With Us | Search   
 
News, Tips & Offers delivered to your inbox

ABOUT US | VIEW ALL FEATURED ARTICLES | VIEW ALL TOPICS | VIEW ALL REGIONS | DM MOBILE | DM BLOG

Home Loans Georgia

Many people confuse a home-equity line of credit with a home-equity loan. In this article, you’ll learn the difference between the various types of home loans.

Local Companies

Capitol City Bank & Trust Company
(404) 752-6067
562 Lee St SW
Atlanta, GA
A & C Mortgage LLC
(678) 822-0400
3042 Oakcliff Rd
Atlanta, GA
AAA Direct Mortgage
(770) 448-7796
3955 Pleasantdale Rd
Atlanta, GA
Cummings Mortgage Co.
706-295-7165
111 Bridgepoint Plaza Ste 302
Rome, GA
Countrywide Mortgage Corporation
770-414-6600
100 Colony Square, 1175 Peachtree St.
Atlanta, GA
Novation Mortgage
678-698-3557
2501 E. Piedmont Road
Marietta, GA
Option 1 Finanical
678-232-0828
2380 Buford Dr Suite 106-328
Lawrenceville, GA
1st American Capital LLC
(404) 588-5500
191 Peachtree St Ne
Atlanta, GA
American Equity Mortgage
770-955-5700
200 Galleria Pkwy SE
Atlanta, GA
Allied Home Mortgage Capital Corp.
770-939-7075
2179 Northlake Pkwy
Tucker, GA

Home Equity Line Of Credit

Home-equity lines have experienced unprecedented growth in the past two years and presently represent 80 percent of the home-equity market.

A home-equity line of credit is a varible interest rate loan that works like a credit card. You get a pre-determined loan amount that is secured by your home.

Most come with checks and credit cards that you can use to draw on as you need the money.

Most lenders only require an interest only payment for either 10 or 15 years. After that the loan must be paid in full. The reality is most people will sell their home and pay the loan off before it actually comes due. You could always refinance if you decide you want to stay in your home.

An important thing to remember on a home-equity line of credit is it is based on varible interest rates. These varible rates will cause your payment to change as the interest rates move up or down.

Home Equity Loan

A home-equity loan has a fixed interest rate and fixed payment. These loans are more like a standard second loan on your home. Like a home-equity line of credit, these loans are also secured by your home.

You borrow a certain amount of money for a specific period and get the whole sum at the close of the loan. The payments a on home-equity loan are typically based on 10 to 15 years and are level.

People who aren't comfortable with an adjustable or varible rate payment tend to favor a home-equity loan instead of a home-equity line of credit. As interest rates rise, these loans become more popular than home-equity lines of credit.

A home-equity loan will have a higher interest rate because it is fixed. Varible rate loans usually have lower starting interest rates. But if interest rates are rising, a varible rate could catch up or even get higher than what the fixed rate is.

About the Author:

Gary Gresham is a mortgage loan officer and the webmaster for http://www.1stopshoppingonline.com. He offers you purchase, refinance, debt consolidation or home equity loans at competitive rates at http://www.1stopshoppingonline.com/home-loan.html

Gary@1stopshoppingonline.com


Article Source:

thePhantomWriters Article Submission Service

Featured Local Company

Capitol City Bank & Trust Company

(404) 752-6067
562 Lee St SW
Atlanta, GA
Read more about Home Loans

Related Articles
- Bad Credit Home Owner Loans Georgia
There are several reasons why people may need bad credit home owner loans. The general reason is for the use on home improvement needs. Instead of using one's savings or creating unwanted high interest credit card debt, a home owner loans offer you an inexpensive way to get the money you need to spruce up your home.
- Cheap Student Car Loans Georgia
- Applying For Government Home Loans Georgia
- Compare Refinance Car Loans Georgia
- Secured Car Loans Georgia
- Differences Among Home Loans Georgia
- Jumbo Home Loans Georgia
- Bad Credit Loans Based On Equity Georgia
- Personal Loan Management Georgia
- Deals For Homeowners Georgia
Regional Articles
- Home Loans Acworth GA
- Home Loans Albany GA
- Home Loans Alpharetta GA
- Home Loans Americus GA
- Home Loans Athens GA
- Home Loans Atlanta GA
- Home Loans Augusta GA
- Home Loans Austell GA
- Home Loans Baxley GA
- Home Loans Blairsville GA
- Home Loans Brunswick GA
- Home Loans Buford GA
- Home Loans Calhoun GA
- Home Loans Canton GA
- Home Loans Carrollton GA
- Home Loans Cartersville GA
- Home Loans Cedartown GA
- Home Loans Chatsworth GA
- Home Loans Columbus GA
- Home Loans Conyers GA
- Home Loans Cordele GA
- Home Loans Covington GA
- Home Loans Cumming GA
- Home Loans Dacula GA
- Home Loans Dahlonega GA
- Home Loans Dallas GA
- Home Loans Dalton GA
- Home Loans Dawsonville GA
- Home Loans Decatur GA
- Home Loans Douglas GA
- Home Loans Douglasville GA
- Home Loans Dublin GA
- Home Loans Duluth GA
- Home Loans Eatonton GA
- Home Loans Elberton GA
- Home Loans Ellenwood GA
- Home Loans Ellijay GA
- Home Loans Evans GA
- Home Loans Fairburn GA
- Home Loans Fayetteville GA
- Home Loans Fitzgerald GA
- Home Loans Flowery Branch GA
- Home Loans Forest Park GA
- Home Loans Fort Benning GA
- Home Loans Fort Valley GA
- Home Loans Gainesville GA
- Home Loans Griffin GA
- Home Loans Grovetown GA
- Home Loans Hartwell GA
- Home Loans Hephzibah GA
- Home Loans Hinesville GA
- Home Loans Jesup GA
- Home Loans Jonesboro GA
- Home Loans Kennesaw GA
- Home Loans Kingsland GA
- Home Loans La Fayette GA
- Home Loans Lagrange GA
- Home Loans Lawrenceville GA
- Home Loans Lilburn GA
- Home Loans Lithia Springs GA
- Home Loans Lithonia GA
- Home Loans Loganville GA
- Home Loans Mableton GA
- Home Loans Macon GA
- Home Loans Marietta GA
- Home Loans Mcdonough GA
- Home Loans Milledgeville GA
- Home Loans Monroe GA
- Home Loans Morrow GA
- Home Loans Moultrie GA
- Home Loans Newnan GA
- Home Loans Norcross GA
- Home Loans Peachtree City GA
- Home Loans Powder Springs GA
- Home Loans Ringgold GA
- Home Loans Riverdale GA
- Home Loans Rockmart GA
- Home Loans Rome GA
- Home Loans Rossville GA
- Home Loans Roswell GA
- Home Loans Saint Simons Island GA
- Home Loans Savannah GA
- Home Loans Sharpsburg GA
- Home Loans Smyrna GA
- Home Loans Snellville GA
- Home Loans Statesboro GA
- Home Loans Stockbridge GA
- Home Loans Stone Mountain GA
- Home Loans Suwanee GA
- Home Loans Thomaston GA
- Home Loans Thomasville GA
- Home Loans Thomson GA
- Home Loans Tifton GA
- Home Loans Toccoa GA
- Home Loans Tucker GA
- Home Loans Valdosta GA
- Home Loans Vidalia GA
- Home Loans Villa Rica GA
- Home Loans Warner Robins GA
- Home Loans Waycross GA
- Home Loans Winder GA
- Home Loans Woodstock GA
Related Local Event
2Nd Annual Real Estate Industry Day
Dates: 9/18/2009 - 9/18/2009
Location: Holiday Inn Decatur
Decatur, GA
View Details
Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin
Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History
Articles.DirectoryM.com | Search | About Us | Contact Us | Mobile | Blog | En Español
Copyright © BET Information Systems, Inc. All rights reserved.