Partnership Lending | Home Equity Loans

Home Equity Loans

Put your home to work for you and free up the equity you've earned. Whether you're looking for a home equity loan for your primary residence, second or vacation home, or an investment property, Evergreen Home Loans offers you a full range of home equity options that help you take advantage of your property's increasing market value.

Learn the basics of your home equity financing options:

Home Equity Lines of Credit (HELOCs) and Fixed Rate Seconds
• Fixed Rate Second Mortgage
• Home Equity Line of Credit
• Home Equity Loans used in conjunction with First Mortgages

Fixed Rate Second Mortgage

This loan program allows borrowers to receive the entire balance of the loan (principal) up front and make predictable payments of principal and interest over the life of the loan, fully paying off the debt.

Home Equity Line of Credit

This loan program works just like a credit card, but typically charges a lower interest rate. If offers the flexibility to borrow up to your credit limit as often as you need. The payments are variable and are based on a monthly adjustment that corresponds to the Prime Rate index, published in the Wall Street Journal.

Home Equity Loans used in conjunction with First Mortgages

You can combine a First Mortgage and a Home Equity Mortgage to purchase your new home. This approach lets you avoid paying mortgage insurance by maintaining a combined loan-to-property value over 80%.