Sacramento Home Equity Loans
Improve the value of your home today!

It's a great time to refinance and get a home equity loan - to improve the value of your home. I'll give you all your options with your Sacramento home equity loan and we can compare your current monthly mortgage vs. what we can offer you.

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I appreciate the opportunity to earn your business. Whether you want to refinance for a lower mortgage rate, get a new home loan, home equity loan or second mortgage, my purpose is to satisfy your needs. By putting you first, I assure you a pleasurable transaction.

Contact The Bay Area Loan Guy for all your questions regarding Home Improvement Loans and any Home Equity loans.

Take cash out of your home! Use your equity for just about anything!

Improve your home
Get a new roof
Pay for college
Get a new car
Take a special vacation
Consolidate your debts
Lower your monthly payments
Invest in a vacation or rental home
Start your own business
Get that special "something" you've always wanted

Our friendly financing experts are waiting to help you.
In addition to our standard loan programs, we may be able to customize a solution and get your loan approved even if you've been turned down before.

Fundamentally, there are two types of home equity loans.

Home Equity Line: When you get a home equity line, you obtain the right to draw money, whenever you want, over a certain period of time. You only pay interest on the amount you borrow. You may borrow, pay off and borrow again against the line of credit. You typically access the line with a check or credit card.

Second Mortgage (home equity loan): When you get a second mortgage, you obtain a lump sum of money. The interest rate and monthly payments are fixed.

Before deciding which type of loan you want, consider how you'll use the money. If you need funds for a single expense, such as a room addition, remodeling, etc., you'll want to strongly consider a fixed-rate, second mortgage. You receive one lump sum at the beginning of the loan term. You pay it back in equal, monthly installments.

The certainty of a fixed interest rate and equal monthly payments make the fixed-rate, second loan very attractive. Will this type of loan be less expensive compared to an adjustable rate, home equity line? There is no way to know with certainty. One would have to be able to predict interest rates with accuracy. Consider one of the reasons why adjustable rate loans were invented: to shift interest rate risk from the lender to the borrower. When market interest rates rise above the interest rate on your fixed-rate mortgage, the lender is effectively losing money on your mortgage and you're getting a bargain. Lenders wanted a way to protect themselves from this situation--thus the adjustable-rate mortgage.

If you need periodic amounts of money over time, for a child's education tuition, for example, a home equity line may be ideal. You can borrow only the amount you need, when you need it. These loans carry adjustable (ARM) rates, but some banks allow you to convert a portion of your loan to a fixed-rate second. You may pay a premium for the convenience of an equity line, including a transaction fee for each draw and an annual fee if you draw or not.

Deciding in advance which type of loan is best for you helps when comparing the expense of various loans. Since the APR for a fixed-rate second is calculated differently compared to a home equity line, APR comparisons can be difficult when comparing a fixed-rate second to a home equity line. APRs of fixed-rate seconds account for points and other closing charges. APRs for home equity lines don't account for points and other closing costs. When comparing the same types of loans (apples to apples), APRs are much more meaningful.

Put your equity to work for you.


Call me for your Sacramento Home Loans, Sacramento Mortgage Loans, Sacramento Home Mortgage and Refinance questions.
(408)930-4519

Call me at (408)551-2119

www.bayarealoanguy.com