Home Equity Loans Categories

Fixed Rate Mortgages: These loans have a fixed rate of interest over the entire term for which the loan has been disbursed. The term for these mortgages is typically between 10 to 30 years. The monthly interest payment on these loans is fixed and hence there exists a certainty about the repayment of the debt over the entire term of the debt. Another advantage of fixed rate mortgages is that the initial down payment required is very low, generally around 5% of the loan amount to be disbursed.

The disadvantage of this type of loan is that the rate of interest may be higher than that of a variable rate mortgage. If predictability of the interest payments is important, then it is advisable to consider securing a fixed rate mortgage.

Adjustable Rate Mortgages (ARM): As the name indicates, the interest rate on this type of mortgage fluctuates throughout the term of the loan depending on the interest rate scenario in the economy. The rate for an ARM is usually adjusted annually.

An ARM usually has caps, which restrict the rise in the rate to a certain level, both on an annual basis as well as over the entire term of the loan. For example, an ARM may have a cap of 1% every year and 5% over the term of the loan. This type of loan is best if the term of the loan is short, as the longer the term, the more the exposure to fluctuations in the interest rate. The index to which the variable rate is pegged should also be carefully considered.

Thus a variable rate mortgage can work out to be a cheaper option than a fixed rate mortgage, provided the borrower has given due attention to the risks involved.

Jumbo Loans: If the equity loan to be raised exceeds the federal guidelines set by Fannie Mae/Freddie Mac, then the loan is referred to as a jumbo loan. The limit set by the guidelines is different from state to state. The rates for jumbo loans are typically higher than those for other types of mortgages, as the lender has a higher risk due to the larger amount of the loan. The borrower should try not to exceed the guidelines, as this could mean a considerable savings in terms of interest outflows.

Home Equity Loans - Rates, in depth articles and professional second mortgage advice. Find the lowest home equity loans rates and lenders.

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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nydailynews.com/money/2008/09/29/2008-09-29_dow_jones_plummets_on_news_of_failing_ba.htmlcid=1256952153ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNE7idzjOQv9uKA-4T9Ws3PYfS7_bwimg src=http://news.google.com/news?imgefp=iRBjaBfpweMJimgurl=assets.nydailynews.com/img/2008/09/24/amd_paulson.jpg width=67 height=80 alt= border=1brfont size=-2New York Daily News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://money.cnn.com/2008/10/13/news/economy/treasury_plan/%3Fpostversion%3D2008101311cid=1256952153ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNEtxnW1KGvXqELnsZTHXxkbns7xbwWhat Treasury is planning/abrfont size=-1font color=#6f6f6fCNNMoney.comnbsp;-/font nobr17 hours ago/nobr/fontbrfont size=-1b.../b for the government to brefinance/b the whole loans it purchases. But most mortgages are broken up into thousands of pieces - the bmortgage/b-backed securities b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.youtube.com/watch%3Fv%3DqaJ456CNCy0cid=1256952153ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNENOu9U1o7gZGFWk4pZP9VQ3D73ygVideo: Paulson Says Global Markets Remain Strained/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/qaJ456CNCy0/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/qaJ456CNCy0type=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601170%26refer%3Dhome%26sid%3DaddCa.BISYDUcid=1256952153ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFr90TKlSfL892gmPOxTA3LxtJ1DATreasury Said to Invest $125 Billion in US Banks/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://tothecenter.com/news.php%3Freadmore%3D7316cid=1256952153ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNHQ5mokIgno0yNGqyUquAL-jDwTtgThe Bailout Plan in Plain English/a font size=-1 color=#6f6f6fnobrToTheCenter.com/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256952153hl=ennobrall 1,683 news articles/nobr/a/font/div/font/td/tr/table
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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.killerstartups.com/Web20/freehomerefi-com-mortgage-refinancing-resourcescid=0ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFkNVA20lexLiG6bVSwHOsHVZKelgimg src=http://news.google.com/news?imgefp=zNlM1I2xSEIJimgurl=www.killerstartups.com/graficos/killer-data1.jpg width=80 height=29 alt= border=1brfont size=-2Killer Startups/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.killerstartups.com/Web20/freehomerefi-com-mortgage-refinancing-resourcescid=0ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFkNVA20lexLiG6bVSwHOsHVZKelgFreeHomeRefi.com - bMortgage Refinancing/b Resources/abrfont size=-1font color=#6f6f6fKiller Startups,nbsp;FLnbsp;-/font nobrOct 10, 2008/nobr/fontbrfont size=-1It is a handful resource for people who want to have their bmortgage refinancing/b done in a simple way. “Free Home Refi is committed to providing consumers b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.chicagotribune.com/business/chi-upside-down-mortgage-monoct13,0,2329863.storycid=1257260377ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFaAqarvrt6pVvsy2PzrdLRVeWfggbMortgage/b crisis has turned homeownership upside down/abrfont size=-1font color=#6f6f6fChicago Tribune,nbsp;United Statesnbsp;-/font nobr20 hours ago/nobr/fontbrfont size=-1quot;If you have some kind of disruption to your income and you can#39;t make your bmortgage/b payment, it#39;s going to be very hard for you to brefinance/b or anything b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://sify.com/finance/fullstory.php%3Fid%3D14772811cid=1255977840ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNEbBFaEULmpa2HlSk4BM1U9WzS3RAimg src=http://news.google.com/news?imgefp=4zc7cQtrRSgJimgurl=im.sify.com/sifycmsimg/oct2008/Finance/14771912_executives_200.jpg width=80 height=62 alt= border=1brfont size=-2Sify/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.theglobeandmail.com/servlet/story/LAC.20081013.RBANKSEXPLAINER13/TPStory/Businesscid=1255977840ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFEspBshXKNlJbQkmA4A8U2kh0cnwFrom subprime to stock swoon/abrfont size=-1font color=#6f6f6fGlobe and Mail,nbsp;Canadanbsp;-/font nobrOct 13, 2008/nobr/fontbrfont size=-1Borrowers were led to believe that they would be able to brefinance/b their homes at this point because the value of the property would have increased. b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.washingtonpost.com/wp-dyn/content/article/2008/10/11/AR2008101100149.htmlcid=1255977840ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNGWaU9OVVuWEggsogiSeQ3ZW54eMQARM Holders Would Do Well to Shop Around Now/a font size=-1 color=#6f6f6fnobrWashington Post/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.istockanalyst.com/article/viewiStockNews%2Barticleid_2699695.htmlcid=1255977840ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNH_ZnTsGXW87mtXbLJpuVKILnzinwEDITORIAL: Let Bailout Money Trickle Up, Not Down/a font size=-1 color=#6f6f6fnobristockAnalyst.com (press release)/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.zwire.com/site/news.cfm%3Fnewsid%3D20161858%26BRD%3D1675%26PAG%3D461%26dept_id%3D18168%26rfi%3D6cid=1255977840ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNEHuqWB0pYauhe0rq-zSLM3JMVtKgLetter: Economic trauma can#39;t be excused/a font size=-1 color=#6f6f6fnobrThe Delaware County Times/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://vdare.com/roberts/081009_solution.htmcid=1255977840ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFbZHHMVTWSuxkO_aRO5LUpBIPJygnobrVDARE.com/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.tallahassee.com/article/20081008/OPINION05/810080303/1006/OPINIONcid=1255977840ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNGvCWIrzi6e6vd9EOQ_r0n1Q-B28gnobrTallahassee Democrat/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255977840hl=ennobrall 256 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.sbwire.com/news/view/22363cid=0ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNGpkOMj-My3X_F6XQ2GoYy_h45UiAThe Truth About bMortgage Refinancing/b Revealed By Oregon bMortgage/b b.../b/abrfont size=-1font color=#6f6f6fSBWire (press release),nbsp;WInbsp;-/font nobrOct 8, 2008/nobr/fontbrfont size=-1The site is designed to give Oregon residents all the facts about bmortgage refinancing/b so they can make an educated decision when obtaining a bmortgage/b. b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.newsday.com/news/printedition/longisland/ny-livoice135881819oct13,0,6929750.storycid=1257173810ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFajeYEua8sQAFBpUt9cPFRbZvLbgFreeport family battered by struggling economy/abrfont size=-1font color=#6f6f6fNewsday,nbsp;NYnbsp;-/font nobrOct 13, 2008/nobr/fontbrfont size=-1Joan Fennell said her bmortgage/b broker quot;promisedquot; verbally she could brefinance/b again within the year into a fixed-rate loan and she assumed she#39;d earn enough b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601070%26sid%3DagoIVK3xOols%26refer%3Dhomecid=1257578974ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFTHxtiLRdDdlb4ApeV5ZDEmKQfVwMcCain, Obama Promoting Populist Appeals on Wall Street Rescue/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-1The Democrat is focused on recapitalizing banks while halting foreclosures and creating new jobs, while the Republican wants to purchase and brefinance/b b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.sfgate.com/cgi-bin/article.cgi%3Ff%3D/c/a/2008/10/09/BU9B13DNI7.DTLcid=1255319735ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNEAFV0nK5pOjQ-bWeIJxJQg5bMWhAMcCain campaign outlines bmortgage/b-rescue plan/abrfont size=-1font color=#6f6f6fSan Francisco Chronicle,nbsp; USAnbsp;-/font nobrOct 9, 2008/nobr/fontbrfont size=-1Barack Obama, McCain#39;s Democratic rival, has proposed helping troubled homeowners brefinance/b their mortgages, but his campaign attacked McCain#39;s proposal for b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.youtube.com/watch%3Fv%3DBAdIBCGcEo8cid=1255319735ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFWPU3D5aJEkv316T60O96OvV6wKAVideo: Obama: #39;Taxpayers Shouldn#39;t Pick Up Tab#39;/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/BAdIBCGcEo8/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/BAdIBCGcEo8type=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nytimes.com/2008/10/09/us/politics/09mortgage.html%3Fref%3Dbusinesscid=1255319735ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNFB4HlClGrBIjkQoKtAlC_edGi_bQTaxpayers, Not Lenders, Would Bear Costs of McCain’s bMortgage/b Proposal/a font size=-1 color=#6f6f6fnobrNew York Times/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://blogs.wsj.com/deals/2008/10/08/mccains-300-billion-mortgage-plan-better-than-the-700-billion-rescue/%3Fmod%3Dgooglenews_wsjcid=1255319735ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNGJYhS39UiF2A6vqzcQSNFCe1kcEQMcCain’s $300 Billion bMortgage/b Plan: Better Than the $700 Billion b.../b/a font size=-1 color=#6f6f6fnobrWall Street Journal Blogs/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.newsday.com/news/nationworld/nation/ny-usmort095875394oct09,0,1162571.storycid=1255319735ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNGyzw8xWVRUCzsuzFjBmprjDOiVaAnobrNewsday/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www2.journalnow.com/content/2008/oct/11/principal-is-key-to-housing-solution/cid=1255319735ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNEefWKLrQCewVo8yTdhpY9Tyr-X9wnobrWinston-Salem Journal/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255319735hl=ennobrall 883 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.ireport.com/docs/DOC-113622cid=1257461047ei=lGL0SJW3HaTe6AORmM2dDQusg=AFQjCNHJzhWL9Nx_-YbYdZqgBtR1zG0rFwHomeowner Advocate Demands Justice for American Consumers!/abrfont size=-1font color=#6f6f6fireportnbsp;-/font nobr8 hours ago/nobr/fontbrfont size=-1Armed with these tricks of the trade, a consumer can drive the deal and secure the best bmortgage/b or brefinance/b.quot; Ted Krager#39;s efforts to inform America#39;s b.../b/font/div/font/td/tr/table
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