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Our polite, professional and efficient staff has decades of experience providing home financing and home refinancing loan options to many
thousands of satisfied customers with superior service second to none.  We are a direct source for home mortgage loans, mortgage refinance,
mortgage rates and home equity mortgage refinancing loan programs.  We also specialize in options for mobile home refinancing, mobile
home loans, mobile home financing and manufactured home loan lender products specifically for manufactured housing lending nationwide.
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Home Equity Loans -- What You Need to Know

A home-equity loan, also known as a second mortgage, lets homeowners
borrow money by leveraging the equity in their homes.  With a home-equity loan,
homeowners may be able to deduct all of the interest when they file their tax returns.

Two Types of Home-Equity Loans
Home-equity loans come in two varieties - fixed-rate loans and lines of credit.   
Both types are available with terms that generally range from five to 15 years. Another
similarity is that both types of loans must be repaid in full if the home on
which they are borrowed  is sold.

Fixed-Rate Loans
Fixed-rate loans provide a single, lump-sum payment to the borrower, which is repaid
over a set period of time at an agreed-upon interest rate. The payment and interest rate
remain the same over the lifetime of the loan.

Home-Equity Lines of Credit
A home-equity line of credit (HELOC) is a variable-rate loan that works much like a
credit card and, in fact, sometimes comes with one. Borrowers are pre-approved for
a certain spending limit and can withdraw money when they need it via a credit card
or special checks. Monthly payments vary based on the amount of money borrowed
and the current interest rate. Like fixed-rate loans, the HELOC has a set term.
When the end of the term is reached, the outstanding loan amount must be repaid in full.

Benefits for Consumers
Home-equity loans provide an easy source of cash. The interest rate on a home-equity
loan, although higher than that of a first mortgage, is much lower than on credit cards
and other consumer loans. As such, the number-one reason consumers borrow against
the value of their homes via a fixed-rate home equity loan is to pay off credit card
balances. Interest paid on a home-equity loan is also tax deductible, as we noted earlier.
So, by consolidating debt with the home-equity loan, consumers
get a single payment, a lower interest rate and tax benefits.

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Home Equity Loans - What You Need To Know - Mortgage Refinance
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Earth Works Trust Financial Services doesn't lend money directly to borrowers, though we are a direct source to approved national lenders and
licensed independent mortgage professionals in your local area.  This allows for the widest variety of housing loan options to meet your needs. We
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