Nebraska Home Equity Loans
Throughout Nebraska, homeowners are looking to second mortgages to finance a variety of projects and initiatives. Traditional 2nd mortgage products include home equity loans and home equity lines of credit (HELOC); both products are offered at competitive rates and terms through qualified Nebraska lenders. Borrowers from Omaha (68101) to Waterloo (68069) are using home equities to finance projects such as home improvement and repair, debt consolidation, auto loan financing, college tuition and ongoing medical expenses.
For one time expenses such as adding a new roof or debt consolidation, a home equity loan is an ideal choice. A home equity loan has a fixed rate and pre-determined payment schedule. The borrower receives one lump sum amount of money, typically used toward one specific project or initiative. For Nebraska borrowers who foresee ongoing payments in their future, a home equity line of credit (HELOC) may be a better fit. A home equity line of credit is a variable rate revolving line of credit where the borrower only has to make payments on money drawn against the line.