Also known as a home equity loan, second mortgages use the equity, or principal paid, in your home to secure your loan through the bank or lender. Many people, even with all of the ads and commercials on TV and radio, think that they must stick with their original lender for a refinance loan. This is simply not true.
You can refinance your mortgage through any lender you wish. Don't be fooled by lower rates to make you stay with your original lender. They often come with high penalties and disadvantageous details in the fine print. Why not choose a lender who offers you low rates with high-quality terms right upfront?
That's what we're about here at Downs Financial, Inc. We offer phenomenal rates to all our customers, not just those who have processed loans with us before or those who have a lot of money. That's the other thing customers have to watch out for. The average person often gets quoted a higher interest rate from other lenders than the person with significant assets.
We don't practice that kind of lending at Downs Financial, Inc. We look at each case individually and tailor a loan program for you based on your needs, not how much money we can eek out of you. We are a bank, which means we have our own money. Our policies are straightforward and simple; we offer the best rates online with fast, expert professionals for a pleasant lending experience.
