Wednesday, March 10, 2010
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Let People's Choice Mortgage, VA unlock the door to the cash in your home with a Home Equity Loan or a Home Equity Line of Credit. Need money for home improvements? Want a tax deductible loan for the purchase of a new car, boat, or motor home? Any of these can be a reality with People's Choice Mortgage, VA programs for leveraging the equity in your home! With great rates and generous loan limits that allow you to borrow up to 80% of your home’s value.
- The most competitive Home Equity programs available
- Interest only available
- Low document programs available for self employed borrowers -TEMPORARILY SUSPENDED
- Available for primary residences up to 80%
- Investment properties up to 89.99% -TEMPORARILY SUSPENDED
- Interest rates are prime plus
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Loan Programs
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Advantages
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Disadvantages
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Home Equity Line of Credit
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- You only borrow what you need
- Pay interest only on what you borrow
- Flexible access to funds
- Interest may be tax deductible
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- Rates can change. The maximum interest rate is normally high.
- Payments can change
- Harder to refinance your first mortgage
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