Are you looking to:

Consolidate debt?
Use a 2nd mortgage to avoid Private Mortgage Insurance?
Grab additional cash for investments?
Buy a boat or car?
Pay for college?
Have access to emergency cash?
Have cash for any reason at all?


Then a 2nd mortgage through Powerline Mortgage may be just what you are looking for.

Choose between a Home Equity Loan and a traditional 2nd Mortgage!

A home equity loan works like a credit card. You may borrow up to you credit limit. You will get a monthly statement with a minimum payment due. You may always pay the entire balance off every month. Once you pay down the balance you may re-borrow up to your credit limit again.

A traditional 2nd mortgage works like an installment loan. You receive a one time lump cash payment. You get a fixed interest rate and a fixed time to pay back the loan. Your payment will be fixed every month. Once you pay down the loan, you cannot re-borrow the money.

Option
Home Equity vs.
Traditional 2nd
Fixed Rate
No
Yes
Adjustable Rate
Yes
No
Interest only payment
Yes
No
Fixed Payment
No
Yes
Ability to re-borrow
Yes
No
Check writing feature
Yes
No




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