For over eight years, Downs Financial, Inc. has been an industry leader in the home mortgage lending market. When you're ready to take out a second mortgage (also known as a home equity loan because it is secured by the equity in your home) on your home, we offer terms from 10 to 20 years and also provide a 30/15 program that boasts the lowest payments available. We make it our job to ensure that our customers have an easy, painless experience when applying for a second mortgage.
Our friendly and knowledgeable licensed loan officers are experts at what they do. They can quickly pre-approve your loan and get the paperwork started that same day. Even if your credit leaves something to be desired, we can find a loan program that works for you because we take your current situation into account. The equity in your home takes care of the rest.
When considering a home equity loan, it is important to consider the reason for the loan. If you are trying to capitalize on equity to pay down debt and reduce payments, it's usually a great idea. However, don't be fooled by ultra-low interest rates. If a rate is unbelievably great, it's usually because there's a large balloon payment attached to it that could leave homeowners in foreclosure or bankruptcy when it comes due.
We will help you avoid these pitfalls. Our interest is in helping you build a stable investment and get a great rate in the process. Our home equity loans will not only help customers reduce payments, but they can also encourage better spending habits, reduce debt, and get you on the right track to a debt-free life.