Mexican Financing - Home Equity

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Mexican Financing: House as Down Payment, Home Equity Loan
	A home equity loan is a great way to extract money out of your home equity. In most cases there are tax deductible interest payments and the choice of paying interest only on the loan as opposed to an amortized schedule. A home equity loan works much like a credit card allowing you to draw out, pay down and redraw the funds to the extent of the loan limit an unlimited number of times. Most home equity loans are based on prime which shadows the Federal Funds Rate. Depending on where prime is, a home equity loan can even be less expensive than the rates for a first mortgage and usually less expensive to obtain. However, as many found out, the rates will not be low forever and, as the Federal Reserve tightens monetary policy the rates on the home equity loans go up and up and up. Give us a call and we can discuss all the pros and cons of a home equity loan based on your specific financial situation.

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