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Need some cash?  A Home Equity, 100% LTV or FHA Title 1 may be the best loans for you.

A Home Equity loan uses the equity in your home as collateral for the loan. Equity is the difference between the value of the home and what is owed on the home. "Bendable Equity" is the amount Century Plaza Mortgage will finance, which is typically 90% of the value of the home less any other outstanding mortgages.

One of the main reasons for obtaining a Home Equity loan is that the interest paid may be tax deductible. To determine whether or not the interest on your Home Equity loan will be tax deductible, please contact a tax advisor.

100% LTV Loan: The best part about our new equity loans is that you can now borrow up to 100% of your home's equity. In the past, equity loans were usually limited to a total combined Loan-to-Value (LTV) ratio of 80%. For example, if your home was worth $100,000, the combined total of the first mortgage and the home equity loan (second mortgage) could not exceed 80% of that value, or $80,000. If the balance on the first mortgage was $60,000, you could borrow up to $20,000 on a home equity loan. But at Century Plaza Mortgage Company, we are offering loan programs that allow you to borrow up to 100% of your home's equity (value).

Home Style Title I Home Improvement Loans were created by the Federal Housing Administration (FHA) to help homeowners who had little or no equity in their homes complete small but essential home improvements to help make their home more livable.

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Last modified: April 18, 2008

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