Home Equity Options

There are a couple of options available to you. You can choose either a Home Equity Loan, which is a fixed amount of money that is repaid over a fixed number of years, or a Home Equity Line of Credit, where you will be approved for a set amount of money which you will access as you need it--whether for home improvements or some other use. Accessing your line of credit is as easy as writing a check.

Home Equity Credit Lines

Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways.

If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates. And they may provide you with certain tax advantages unavailable with other kinds of loans.

At the same time, home equity lines of credit require you to use your home as collateral for the loan. This may put your home at risk if you are late or cannot make your monthly payments. Those loans with a large final (balloon) payment may lead you to borrow more money to pay off this debt, or they may put your home in jeopardy if you cannot qualify for refinancing. And, if you sell your home, most plans require you to pay off your credit line at that time. In addition, because home equity loans give you relatively easy access to cash, you might find you borrow money more freely.

Reduce your interest, lower your payments, or even take cash out to consolidate debt or pay personal expenses.
Convenient access checks to access your available credit whenever you need it. Affordable monthly payments - interest-only for the first 10 years.
Both first and second-position loans to fit your needs.
Interest may be tax deductible (please consult your tax advisor).
Closing costs can be rolled into the balance of your loan.
Choose a no-cost loan (we cover the cost of the loan) or roll your closing costs into the balance of your loan.
Reduced document programs mean less paperwork and faster closings.


- Apply, get approved, and schedule your closing all in one phone call.
- Close in as little as 7-10 days-faster than closing a standard loan.
- Get your cash within days of closing.


- Get up to $500,000 and use the money for anything you want.
- Make repairs or home improvements and increase the value of your home.
- Pay for college expenses, pay off high-interest credit card debt, buy a vacation home or even use it as an alternate source of income.

Home Equity Line of Credit loan works like a credit card and gives you interest - only payments

- You'll get a better rate than a credit card and the interest may be tax-deductible.
- Interest-only payments may be made during the first 10 years of the loan.
- No pre-payment penalties in most cases.
- Works similar to a credit card and you pay only if and when you make a draw.


- Homeowners who want the flexibility to access low-interest, tax-deductible* funds whenever they need it.
- Anyone who wants to finance things they need with a lower interest rate than a credit card and get tax advantages.

Save time. No long forms to fill out.
Expert Advice. We find the right loan for you.
Fast. Get approved in minutes and close your loan in days.
Convenient. Closings that come to you.
Also known as fixed rate second mortgages
Provides security of the same interest/principal payment each month.
Interest payments usually tax deductible (see your tax advisor).
Usually no prepayment penalty.
More flexible underwriting guidelines than traditional second mortgages.
Secured by the equity in your home.
Loans up to $500,000.

Features

Reduce your interest, lower your payments, or even take cash out to consolidate debt or pay personal expenses.
Get your full loan amount up-front and at a fixed rate so your payments never change.
10, 15, 20 and 30-year terms are available - you select the term that's right for you.
Interest may be tax deductible (please consult your tax advisor).
Closing costs can be rolled into the balance of your loan.
Reduced document programs mean less paperwork and faster closings.

Tapping your home's equity is a smarter way to finance your needs

- Don't use your credit card-use your home equity loan instead and get a lower rate and tax advantages.
- Get up to $500,000 and use the money for anything you want.
- Make repairs or home improvements and increase the value of your home.
- Pay for other large costs like college expenses, high-interest credit card debt, or a vacation home.

Our Home Equity loan allows you to use your home's equity to get cash without refinancing your first mortgage.

- You'll get a better rate than a credit card and the interest may be tax-deductible.
- No pre-payment penalties-Quicken Loans allows you to refinance your loan anytime.

How the Home Equity loan works

- The Home Equity Loan is a second mortgage.
- There's no need to refinance your first mortgage.
- Close and get cash in less than 10 days.
- Actual mortgage payments will vary based on individual client situation and current interest rates.

Who It's For

- Homeowners who want the flexibility to get cash from their home.
- Anyone who wants to use their home equity loan instead of their credit card for a lower interest rate and get tax advantages.

Rock Financial makes it easy
Save time. No long forms to fill out.
Expert Advice. We find the right loan for you.
Fast. Get approved in minutes and close your loan in days.
Convenient. Closings that come to you.

Apply Now >>