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South Padre Island, Texas
Specializing in CONDOMINIUM Sales since 1995 ... Property Management... Mortgage Brokerage... call us today toll free to find your place in the sun.. by the shore...in South Padre Island.
Toll Free: 1-866-230-5633/ Local: 956-761-5633
2nd Mortgages

A second mortgage is a tax deductible, low interest way to fund home improvement, investments, or large purchases. Turn your equity into money to purchase the car you always wanted or to buy a vacation home.

There are many different types of second mortgages available:

A home equity loan allows you to borrow money based on the amount of equity, or value, you own in your home. This amount is determined by taking the market value of your house and subtracting the amount of your first mortgage. If you own a home that is worth $150,000 and have a mortgage $100,000, $50,000 is the amount of your equity. Most lenders will allow you to borrow any where from 85% to 100% of this amount.

A home equity line of credit is also based on your equity. However, instead of one large advance of cash, a line of credit is opened for you in the amount of a loan. This amount can be drawn from usually for a period of five to ten years conveniently using credit cards or checks. Through out this draw period interest builds only on the amount you have withdrawn. This type of loan is good for people with irregular expenses since it allows them to draw what they want when they need it.

Second mortgages provide homeowners with a tax deductible alternative to high interest consumer loans. If you are interested in buying a new car, home improvement, or financing college tuition, a second mortgage can help you find the money and save more money than many other loans.

A second mortgage is desirable because lenders generally apply low interest rates since the loan is secured by your home. Also, payments on the interest of a second mortgage are tax deductible, allowing you to save money each year. If you need to borrow money a second mortgage may be the best option for you.

Call us today at 866-230-5633 and you'll be amazed at the loan you can get, and the speed and service from which you will obtain it. Download our application and authorization form fill out, sign and fax to our office at 956-838-1754. Will process application and call you right a way with an answer.

E-mail us at chaconrealtyllc@aol.com with questions or further information.
Copyright © 2001 CHACON REALTY, L.L.C./ Texas Real Estate Broker Lic. #0433318/ Texas Mortgage Broker Lic. #45186/ Texas Registered Builder#2874
Last modified: July 13, 2005