With a Home Equity Loan from Greater Nevada Mortgage, you can put your home’s equity to work for you. Whether you’re planning a significant renovation, consolidating debt, or funding other needs, a Home Equity Loan provides a smart and predictable way to access the value you’ve built in your home.
Home Equity Loan
What is a Home Equity Loan?
A Home Equity Loan gives you a way to turn your home’s value into cash for big goals or important expenses. Often called a second mortgage, it allows you to borrow a lump sum based on the home equity you’ve built—your home’s value minus the balance you still owe on your first mortgage. You’ll enjoy a fixed rate and consistent monthly payments, so you’ll always know what to expect.
What are Home Equity Loans typically used for?
A Home Equity Loan is an excellent fit for one-time, planned expenses—such as tackling home upgrades, paying off high-interest debt, or covering a significant purchase. Since payments start right after the loan is funded, it’s best for when you know exactly what you’ll need and when. If you’d like to keep funds available for “just in case” situations and only pay when you use them, consider a Home Equity Line of Credit (HELOC).
Loan Details
Up to $500,000 with 10-, 15-, 20-, 25-, and 30-year term options.
Credit Score
Home Equity Loans require a minimum 680 FICO credit score.
Property Eligibility
Available for primary residences, secondary residences, and investment homes in Nevada. Each type has a different combined loan-to-value (CLTV) maximum.
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30-Year Fixed Rate Home Equity Loan
- Rate 7.375%
- APR 7.538%
How to Apply for a Home Equity Loan
Here’s how to get started to apply for a Home Equity Loan with Greater Nevada Mortgage.
Calculate Your Home’s Equity
Learn how much you can borrow by calculating the difference between your homes value and current balance remaining on your first mortgage.
Submit Your Application
It’s quick. It’s easy. It’s online. We suggest gathering essential information (repayment history, credit score, proof of debts and other documents) before you begin.
Let’s Chat
All your Home Equity Loan questions are answered by your dedicated Mortgage Consultant and their team as you learn about what options work best for your goals.
1APR (Annual Percentage Rate) can vary and is based on the borrower’s credit rating, collateral type, and other qualifications. Maximum loan amount is $500,000. Maximum combined loan-to-value (CLTV) is dependent on property type: Primary residences up to 90%; Second homes up to 80%; Investment properties up to 75%. Rates, terms, and conditions are subject to change without notice. Additional terms and conditions may apply. The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax-deductible for Federal Income Tax purposes. Borrowers should consult a tax adviser for further information regarding the deductibility of interest and charges. This is not a credit decision or a commitment to lend. We do business in accordance with the Federal Fair Housing Law, the Equal Opportunity Act, and the California Fair Employment and Housing Act.