When you want money for a home improvement or other large expense, consider ING Direct home equity loans. ING home equity rates are competitive and this can offer you the money you need to get the job done.
Home equity loans are different from ING home loans. A home loan gives you the money that you need to purchase your home while a home equity loan allows you to borrow against the money that you have already paid towards your mortgage. For example, if you had a $200,000 mortgage and have $100,000 equity in it, then your home equity loan must be for less than $100,000.
Some of the benefits of an ING home equity loan are:
1. You can borrow up to 75% of your equity with home equity loans from ING. This should give you all the money you need to complete your project.
2. Unlike other companies, there are no fees to open or maintain ING Direct home equity loans. This can save you money.
3. There is also no early payment penalty. Some companies charge additional fees when you pay in advance. ING encourages you to be financially responsible and pay off your loans as soon as you can.
Apply for ING home equity loans to get the money you needING makes it easy to apply for a home equity loan. This is a great way to pay for unexpected expenses. You will quickly know if they can approve your loan application.
Compare the rates on an ING Direct home equity loan with other companiesThere are many benefits to the ING home equity loan, but you should still be diligent about getting the best deal. It's always a good idea to compare the rates of other companies before you sign a contract.
Consider a cash-out refinance instead of ING equity loansA home equity loan isn't your only option for getting the money you need. You should also look at a cash-out refinance of your mortgage, which may offer better rates.
- ING Direct home equity loans typically work like a line of credit. Remember that you don't have to withdraw the maximum amount. Only use the amount of money that you need.