A Home Equity Loan is a loan obtained on a property that already has a primary mortgage. The house itself serves as collateral for both the primary mortgage and any second mortgage, which means that failure to pay either could result in the property being forfeited....
In mortgage refinance, the bank or lender pays off your previous loan and replaces it with a new one; this is why the term refinance is used. Most borrowers go for refinancing to lower their interest rate and shorten their payment term or to take advantage of shifting...
A home equity loan otherwise known as a second mortgage, is a type of loan in which the borrower receives a large sum of money by obtaining equity from their property. The loan amount is determined by the value of your property, which is then dependent on the...
If you’re a homeowner in need of capital, chances are you’ve stumbled across a variety of lending options. Two common lending solutions that often puzzle homeowners are Private Lending and Alternative Lending. Both private and alternative lenders differ from...
Between having to financially balance credit cards, mortgages, and loans, many homeowners often find themselves taking on too much debt. What might surprise you is that this is quite common and by no means a bad thing, especially when you have the option to...
At Leap Financial, getting approved for a loan with us is easy, and unlike traditional financial institutions where approval of mortgage loans is dependent on your income and credit rating, approval of mortgage loans at Leap Financial is dependent on the equity in your property and only your equity in your property. We can help get you approved for a home equity loan in no time!
