Home equity loans are taken out against the equity you have in your home. Borrowers receive one lump sum of cash. This cash can be used to consolidate credit cards, bills and other debts; or you can leverage these funds for major family expenses like college, weddings or vacations. Many borrowers roll this cash back into their properties for home improvements or repairs. This loan may also have potential tax benefits.
When to choose this type of loan:
· If you want predictable, fixed payments
· If you want to access funds without adding PMI to your current first mortgage
Benchmark Lending Group, Inc. is an Equal Housing Lender. 
