If you need to borrow a lump-sum of money and do not want to get cash out refinance to do so, then a fixed home equity loan is the best option. Homeowners choose fixed equity loans on a regular basis because the interest rate is fixed and the interest is tax deductible whereas unsecured loans and credit cards are not. Equity loan rates are much lower than unsecured loans are anyway. Most borrowers take out fixed home equity loans to refinance higher rate loans and credit cards, but sometimes consumers like to use them for getting access to money to finance a vacation or to fund a house remodel.
Smart Home Equity offers the lowest fixed rate home equity loans in the marketplace. Many home equity lenders are actually brokering their second mortgage products to us because of our low interest rates and high volume efficient processing.