A second mortgage loan: This type of loan provides you with a fixed amount of money repayable over a fixed period. Generally the loan calls for equal payments that will pay off the entire loan within that fixed time.

A Home Equity Line of Credit
A home equity line is a form of revolving credit in which your home serves as collateral. Many homeowners prefer to use their credit line for items such as education and home improvements, not for day-to-day expenses. With a home equity line, you will be approved for a specific line of credit. That amount is the maximum you can borrow at any one time while you have the credit line.

Once approved for a line of credit, you will typically be able to borrow up to your credit limit whenever you wish.

The Loan Application Process
We will want to verify certain information about you and the property. Borrower information will include verification of income and employment, assets, and your credit history. You, the applicant, as part of your application process, will usually provide some of this information. Other information, such as your credit history, will be obtained directly from the credit bureaus.

For the property itself, we will order an appraisal in most cases and a legal description of the property, such as a title report. We have 'approved appraisal company" lists, so if you have an old appraisal, we may be able to accept it.