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valign="top"><a href="all_about_loan.html"class="menulinks">All About Loans </a> </td> <td width="10" align="center" valign="top" class="menulinks"> | </td> <td width="120" align="left" valign="top"><a href="free_credit_report.html" class="menulinks">Free credit report</a></td> <td width="10" align="center" valign="top" class="menulinks"> | </td> <td width="90" align="left" valign="top"> <div align="center"><a href="how.html" class="menulinks">How It Works</a> </div></td> </tr> </table> <table width="579" border="0" align="center" cellpadding="0" cellspacing="0" style="margin-top:5px"> <tr class="menulinks1"> <td width="90" align="center"> <a href="about.html" class="menulinks">About Us</a> </td> <td width="11" align="center" class="menulinks"> | </td> <td width="165" align="center"> <a href="why.html" class="menulinks">Why LoanWin.com</a> </td> <td width="11" align="center" class="menulinks"> | </td> <td width="53" align="center"> <a href="faq.html" class="menulinks">FAQ</a> </td> <td width="37" align="center" class="menulinks"> | </td> <td width="104" align="left"><a href="report_fraud.aspx" class="menulinks">Report Fraud</a></td> <td width="10" align="center" class="menulinks"> | </td> <td width="101" align="left"> <div align="center"><a href="ContactUs.aspx" class="menulinks">Contact Us</a> </div></td> </tr> </table> </td> </tr> </table> </td> </tr> </table> <table width="880" border="0" cellspacing="0" cellpadding="0"> <!-- <tr> <td> &nbsp; </td> <td> </td> <td> &nbsp; </td> </tr>--> <tr> <td width="290" valign="top" class="hometxt"> <table width="290" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="15" height="43"> <img src="images/area_01.gif" alt="" width="15" height="43"> </td> <td height="43" background="images/area_02.gif" class="bluebold"> At A Glance </td> <td width="15" height="43"> <img src="images/area_03.gif" alt="" width="15" height="43"> </td> </tr> <tr> <td width="15" background="images/area_04.gif"> </td> <td class="menulinks" style="padding: 10px"> <ul style="line-height: 2em"> <li>Let lenders compete for your loan </li> <li>Know your confidential loan possibilities safely and anonymously </li> <li>Start getting quotes immediately</li> <li>An inexpensive, cost effective service for borrowers and lenders </li> </ul> </td> <td width="15" background="images/area_06.gif"> </td> </tr> <tr> <td width="15" height="15"> <img src="images/area_07.gif" alt="" width="15" height="15"> </td> <td height="15" background="images/area_08.gif"> </td> <td width="15" height="15"> <img src="images/area_09.gif" alt="" width="15" height="15"> </td> </tr> </table> <p> </p> <p>&nbsp; </p> </td> <td width="3"> </td> <td width="587" valign="top"> <table width="587" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="15" height="43"> <img src="images/area_01.gif" alt="" width="15" height="43"> </td> <td height="43" background="images/area_02.gif" class="bluebold">Equity Loans </td> <td width="15" height="43"> <img src="images/area_03.gif" alt="" width="15" height="43"> </td> </tr> <tr> <td width="15" background="images/area_04.gif"> </td> <td class="content" style="padding-top: 15px"> <div class="content"> An <strong>equity loan</strong> is a mortgage loan in which the borrower receives cash. Typically the loan is secured by real estate already owned outright.<br><br> Many lending institutions require the borrower to repay only an interest component of the loan each month (calculated daily, and compounded to the loan once each month). The borrower can apply any surplus funds to the outstanding loan principal at any time, reducing the amount of interest calculated from that day onward. Some loan products also allow the possibility to redraw cash, potentially perpetuating the life of the loan beyond the original loan term.<br> <br> The interest rate applied to equity loans is much lower than that applied to unsecured loans, such as credit card debt. The reasoning behind this is that equity loans involve collateral, and credit card debt does not. Home equity loan interests are tax deductible.<br><br> Equity loan is loan in which the borrower uses equity in something that they own as a security (collateral) for the loan. In general anything of value owned by the borrower can be used as collateral for equity loan  a vehicle, agricultural land, buildings, rental real estate, personal house (home equity loan) etc.<br><br> <p class="menulinks">Home Equity Loans</p> The most common type of equity loan is the home equity loan. A home equity loan is a loan in which the collateral is a home you own. Getting a home equity loan, effectively decrease the equity you have in your house and places a lien against the property, that s why the home equity loans are also know as second mortgage.<br><br> <p class="menulinks">Where to Get Home Equity Loan?</p> You can get a home equity loan from almost any major financial institution. In the last few years the all-time low home equity loan interest rates, the home equity loan market has become very competitive, so find current home equity loan information in order to choose the best home equity loan.<br><br> <p class="menulinks">Home Equity Loan Refinancing</p> Home equity loan refinancing is essentially paying off your mortgage with the cash from a new home loan, which uses the same real estate property as security for the loan (another example of collateral is the deposit of a secured credit card). When interest rates are falling down, you might be able to arrange a home equity loan refinancing, which will lower your mortgage carrying cost as a result.<br><br> <p class="menulinks">Home Equity Loan Types</p> Home equity loans can be open ended or close ended. The borrower gets a lump sum with the close end home equity loan and it s not possible to borrow further. The close end loans are usually for shorter periods than the original mortgage and have fixed interest rates. The open end home equity loan is like a line of credit (frequently called home equity line of credit), and the borrower can borrow up to a certain credit limit. This type of home equity loan is available for longer periods of time compared to the close end, and the interest rate is tied to the prime interest rate. </div> </td> <td width="15" background="images/area_06.gif"> </td> </tr> <tr> <td width="15" height="15"> <img src="images/area_07.gif" alt="" width="15" height="15"> </td> <td height="15" background="images/area_08.gif"> </td> <td width="15" height="15"> <img src="images/area_09.gif" alt="" width="15" height="15"> </td> </tr> <tr> <td height="10"> </td> <td height="10"> </td> <td height="10"> </td> </tr> </table> </td> </tr> <tr> <td>&nbsp; </td> <td> </td> <td>&nbsp; </td> </tr> </table> <table width="880" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="20"> <img src="images/foot-bg_01.gif" alt="" width="20" height="79"> </td> <td align="center" background="images/foot-bg_02.gif" class="footxt"> <a href="how.html" class="footxt">How It Works</a>&nbsp;&nbsp;&nbsp;&nbsp;|&nbsp;&nbsp;&nbsp;&nbsp;<a href="faq.html" class="footxt">FAQ</a>&nbsp;&nbsp;&nbsp;&nbsp;|&nbsp;&nbsp;&nbsp;&nbsp;<a href="why.html" class="footxt">Why LoanWin.com</a>&nbsp;&nbsp;&nbsp;&nbsp;|&nbsp;&nbsp;&nbsp;&nbsp;<a href="about.html" class="footxt">About Us</a>&nbsp;&nbsp;&nbsp;&nbsp;|&nbsp;&nbsp;&nbsp;<a href="ContactUs.aspx" class="footxt">&nbsp;Contact Us&nbsp;</a>&nbsp;&nbsp;&nbsp;|&nbsp;&nbsp;&nbsp;&nbsp;<a href="Default.aspx" class="footxt">Customer Login</a><br> 2010 &copy; LoanWin.com. 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