Refinancing Equity Loans, Home Equity Loans, Mortgage Calculator, Current Mortgage Rates, HELOC


	With potential tax advantages and interest rates lower than most other kinds of consumer credit, Community Mortgage Home Equity solutions are smart, powerful tools that help you intelligently manage one of your most important assets - your home. Which is right for you - a loan or a line of credit? Each offers unique benefits to fit your needs.

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Getting a home equity loan or line of credit has never

been easier. At Community, we’ve always believed the loan process should be simple and friendly, with decisions made by people who live in the community. Whether your looking to finance a college education, buy a car, or build an addition to your house, we’ll work closely with you to create a program that fits you and your budget just right, with quick turnaround on your request, flexible terms, and competitive interest rates.

Benefits of a Home Equity Loan or Line of Credit from Community Mortgage Corp:

Take advantage of the equity you’ve built in your home. The money you borrow may be used for any purpose—home improvements, education, vacations, vehicles, and debt consolidation. At Community, you can borrow up to 100% of the appraised value of your home. The interest you pay may be tax deductible, too. (Please consult your tax advisor regarding the deductibility of interest.)

Home Equity Term Loan:

Fixed, monthly payments make budgeting simpler.
Variety of loan terms available.
Fixed interest rates.

You have 24-hour access to information and application services via this Web site or you can send us a question via e-mail.

Applying for a loan is easy. You can:

Complete the online application
Call the Toll Free phone number at 1-800-424-9377




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	Cash-out refinancing vs. home equity loans
Q: Can you get money out of refinancing your home to use for major home repairs? Or should you just get a home equity loan? There is only about a 1 to 1.5 percent difference in the two loan rates.


	Is a home equity loan right for me?
Q: I recently purchased a new home and now want to put an in-ground pool in for my children to enjoy. My mortgage is $194,500, and my home is appraised at $260,000. Should I get a fixed home equity loan to purchase the pool? I want the lowest monthly payment possible.


	Loan consolidation...Lower your payments and get a tax break!
Most of us can run up credit card debt without even knowing exactly how we did it. We look at that statement with the big numbers and try to remember where the money went. A few dinners here, some clothes there, a short weekend getaway, late charges and, finally, over-the-limit fees. Then add lots of interest that your parents used to be able to deduct from their taxes but you can't.


	What is cash-out refinancing?
Cash-out refinancing is a transaction in which a new mortgage is issued that is greater than the outstanding unpaid principal balance of the previous mortgage. Cash-out transactions allow homeowners to spend the equity they have accumulated in their homes. It differs from a home equity loan or line of credit in that it's a new mortgage, not a second loan against the equity in a home. Both cash-out refis and home equity loans provide vehicles for taking cash from the home's equity.