Download Homeowner Loans apk 2.0 free for Android smartphone
Apk file size: 5.6 MB
The What and the Why of Homeowner Loans
Homeowner loans are loans that are given to borrowers who own a house. Homeowner loans are secured loans for which the borrower has to offer his house as collateral. If you avail a homeowner loan against your house which is already mortgaged, then the homeowner loan becomes a second mortgage loan. In such a situation, you can avail a homeowner loan only to the extent of your home equity. Home equity is the value of your house subtracted by the unpaid mortgage balance. You may avail a homeowner loan amount covering the entire value of the house to repay your existing mortgage. Such a homeowner loan is called a remortgage loan.
There are several benefits of homeowner loans. Since homeowner loans are secured, they carry low rates of interest. Lenders usually grant homeowner loans with easy repayment terms. You may avail a homeowner loan with an extended loan period. This will allow you to pay small amount of monthly instalments.
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Havana Apps part of our Finance and have average installs from 10 to 50. Last Update May 19, 2014. Google play rating is 92.0. Current verison is 2.0. Actual size 5.6 MB.