Best HELOC Lenders in Louisiana 2019
If you’re a Louisiana Homeowner looking to tap into your home equity, then there are some amazing second mortgage and home equity borrowing solutions available to you. All across the state, home values are on the rise, and with today’s mortgage rates hitting the historical lows that they are, there is no better time to obtain a home equity line of credit.
Today’s home finance market is primed for homeowners to not only grow the equity in their homes, but to be able to utilize it! Homeowners should be happy to know that the amazingly low mortgage and refinance rates of today extend into the rates available for second mortgages as well. If you are a homeowner interested in a home equity line of credit, now would be a perfect time to start looking for lenders and comparing interest rates.
In this article, we’ll review the best HELOC lenders in the state of Louisiana, and why you should consider working with them for your second mortgage.
Best Way to Find a Louisiana Home Equity Line of Credit Lender : Lending Tree
In today’s times, borrowers have some seriously impressive options when it comes to finding a mortgage product online. While the online mortgage trend grows and evolves each and every day, it is an undeniable fact that near the very top of the pack, one of the best online platforms for finding a mortgage solution is Lending Tree.
Lending Tree is probably the best place for potential borrowers to begin searching for lenders and loan products and to compare the rates available to them. After all, lending tree has a vast network of over 300 banks that it works with in order to provide its users with the best possible loan offers.
In terms of Home Equity options, Lending Tree helps borrowers narrow down the field a little by finding out the most crucial information from the borrower upfront, leaving home equity solutions that more closely match the borrower’s goals. Still, the ability to shop around for the lowest rates and the most favorable loan terms while relaxing at home is unmatched.
#1 Louisiana Home Equity Line of Credit Lender: J P Morgan Chase Bank
Chase Bank is a big name both in and out of the home finance industry. Throughout the region, Chase is highly commended by previous clients as being an incredible mortgage lender, who gets the job done as advertised.
Chase has countless years of experience with and an impressive volume of home equity lines of credit originated under its belt. Home buyers can expect personalized service and readily available advisers while working with the financial giant, and stress free second mortgage financing with some of the best rates on the market.
While chase doesn’t offer home equity loans, it does give borrowers one of the most widely used HELOC products in the country. Chase’s HELOC comes with a variable interest rate that can be locked in at any time by the borrower, a draw period of 10 years, and allows borrowers a term of up to 20 years for their repayment period.
Eligibility for their HELOC product is extended to borrowers with credit scores of at least 680. A HELOC from Chase has a maximum LTV of 80%.
#2 Louisiana Home Equity Line of Credit Lender: Quicken Loans
Getting any type of home financing online may have seemed sketchy at best a decade ago, but the amazing team over at Quicken loans has truly set the standard for the online mortgage experience. Quicken Loans (and it’s online division Rocket Mortgage) have made Home financing as simple and straightforward as possible.
The online home loan, home equity loan, HELOC and refinance process is highly geared towards a streamlined user experience. Progress on the status of second mortgage loan applications can be easily tracked online, and preapproval for an home loan can be completed in a matter of minutes.
The service even keeps applicants posted with any documentation they may have forgotten or still need to provide. The real icing on the cake comes from the support staff that can be reached by phone or through the website that is standing by to offer their advisory services and answer any questions a potential borrower may have.
#3 Louisiana Home Equity Line of Credit Lender: Regions Bank
A popular bank of choice for many, Regions Bank operates out of 1371 branches spread across 15 states. Regions Bank is an exemplary institution that prides itself on its commitment to to its customers, associates, shareholders, and communities.
Regions Bank may not be as large as some of the banking giants in the country, but they have portrayed the same if not more dedication to helping their clients obtain affordable financing solutions. As a part of their commitment to their customers, they ensure that only the cream of the crop loan officers get employed with them.
Home equity solutions through Regions Bank are also dealt with by highly knowledgeable loan officers, who make themselves readily available for their clients. With regions, getting a home equity line of credit is a simple, and stress free event!
#4 Louisiana Home Equity Line of Credit Lender: Guaranteed Rate
A Kingpin of the online mortgage trend that plays a large role in home equity financing is Guaranteed Rate. Their participation in the digital mortgage wave leaves many other platforms lacking by comparison.
Guaranteed Rate is also extremely experienced with the origination of second mortgages such as home equity loans and HELOCs. The ability to offer second mortgages through one of the best digital mortgage platforms available makes them serious competition to other mortgage lenders, and highly favored among repeat and first time home buyers.
The online platform makes securely uploading the important financial documentation requested for a loan approval fast and easy. Borrowers can even check their credit scores through the service, rather than go elsewhere. Guaranteed Rate is one of the rare few digital mortgage platforms where a mortgage loan can be obtained without ever needing to speak with someone unless requested by the homeowner.
Shop Around Before You Get a Home Equity Line of Credit
Our picks for the best home equity line of credit lenders may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best loan terms and interest rates can be found in the most obscure places. Regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal refinance solution that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best mortgage lender in your area, don't hesitate to contact a home.loans mortgage expert!