Folsom Home Loan

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Home Equity Loans - Folsom, CA

A home equity loan is financing that involves the borrower using their home as collateral, with their home equity being used as a reference to what the loan amount will be. This loan is much more fluid in terms of accessibility in comparison to a mortgage. A home equity loan from Baker Loan Team can be used to pay for home renovations, new home projects, even paying for college tuition.

There are two ways that a home equity loan is distributed; fixed term or variable. A fixed line of credit has the funds completely distributed and then paid back through monthly payments for a specified loan term. A variable home equity loan features liquidity that allows the borrower to access their funds whenever they need them. Applying for a home equity loan follows similar criteria to applying for a refinance in Folsom.