Home equity loans with the best rates for a second mortgage.

Home Equity Loan

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Home Equity Loan Rates
Find the best interest rates from thousands of lenders and brokers across America...

Home Equity Loans
Find the perfect home equity loan in your state. Choose from fixed or adjustable rates.

Home Improvement Loans
The best rates to REMODEL with up to 125% of your home's value.

Debt Consolidation
Make your home equity work for you and pay off bills today.

Equity Line of Credit
Convert you home's equity into instant cash, even with less than perfect credit.

No Equity Loans
Easily qualify with low down payments.

Less than Perfect Credit Financial Rates
If you have less than perfect credit click here to see "subprime" refinance mortgage rates.

Find a 2nd Mortgage Lender
Find lenders and brokers with the best rates for a home equity loan.

Second Mortgage Information
Find out how to negotiate the best refinancing deal with these insider tips.

Home Equity Loan Calculators
Find out how much you will save with these financial calculators.

This site has been designed to help people find the best home equity loan available. We are not a broker or lender and have put together this free information to make it easy to find the best home equity loan.

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Standard Purchase and Refinance Mortgage Rates

Find the most favorable mortgage rates for all conventional home loan purchases and first time buyer mortgage refinances.

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Home Equity Loan Rate Tip

The Loan Application
Once a lender has been selected, the next step will probably be to begin the collection of information the lender needs to approve the loan. They will explain the types of mortgage e loans available, the interest rates and fees for each type and the qualification requirements. During the meeting, the loan officer will fill out, or assist in filling out, the loan application form.

By this time you should have a good idea of the general interest rates and fees being charged. The total cost of a mortgage loan consists of the interest rate on the loan, origination fees, discount points, and miscellaneous other charges. One point is equal to one percent of the amount of the loan and is usually collected at the loan closing, or settlement. The interest rate affects the amount of the monthly payment, while points affect the amount of cash needed at closing.

Most lenders will offer a range of interest rate/point combinations to meet the borrower needs. In general, the higher the interest rate, the lower the points. For example, if the current market provides for an 8.5 percent interest rate with 2 points, a nine percent rate may be offered at no points. If you are a first-time home buyer, the larger monthly payments on the 9 percent loan may be easier to handle than the 2 points that will require additional cash at settlement. If you are a corporate transferee, however, your company's relocation policy may pay all or part of origination costs and the lower rate will have more appeal. The loan officer will probably explain all of your options.

When discussing the terms of the loan, understand how and when the rate and fees on the loan are going to be set. Most lenders will quote a rate and fee at the time the application is taken and then will guarantee, or "lock" the rate quote for a specified length of time. A rate lock protects one from rising interest rates while the loan is being processed, but it also typically commits a borrower close the loan at the rate and the fee even if rates decline prior to closing. Lock periods may run from 10 to 60 days, with longer periods available in some cases at an additional fee. The lock period must be long enough to get through the estimated closing date. A 30-day lock affords no protection if closing is at least 60 days away.

You may have the option to let the mortgage rate "float," getting the final rate and fees set nearer the settlement date. If you believe rates are declining and are willing to run the risk that interest rates could rise during the processing of your loan, you may select this alternative. Before taking a floating mortgage rate, make sure that the rise in interest rates will not create a problem because you have insufficient income to cover the higher payments. In either case, make sure to understand exactly the terms of the loan's lock-in agreement.