Do you need to tap into your home’s equity to pay for a home remodeling project or to pay off a credit card? A home equity loan is a fixed or adjustable rate loan that is secured by the equity in your home. With a home equity loan, you borrow a lump sum of money to be paid back monthly over a set time frame, much like your first mortgage. The terms home equity loan and second mortgage are often used interchangeably.
The process for a home equity loan is similar to your first mortgage. The closing costs (often 2-3 percent of the loan amount) are usually lower and, although the interest rateis higher on a home equity loan, the interest paid is tax deductible.
To qualify for second mortgage, your credit must be in good standing and you must be able to document your income. An appraisal will be required on your home to determine the home's market value.
We are proud to announce that we made the Business Courier 2008 Book of Lists as one of the Largest Tri-State Residential Mortgage Lenders
Franklin Financial Group, Inc is a proud member of the TotalChoice Network, LLC. The TotalChoice Network provides individual consumers with multiple resources to choose from to help them achieve their financial goals. Companies and HR departments are able to utilize the tools necessary to meet daily business needs and answer employee questions all in one place.
With today’s difficult economy what could be easier than having one place to obtain trusted advice to help you create the right financial blue print. TotalChoice Network puts these tools right at the consumers’ fingertips. From new college graduates to those entering retirement, our network of professionals will offer individuals and families a wealth of products and services to meet all of their needs and help answer all of their financial questions.
Franklin Financial Group, Inc is proud to partner with Majestic Security, LLC to offer IDENTITY THEFT PROTECTION AND RESTORATION. Identity theft has become the number one white-collar crime in America. At the rate this crime is growing, it is not a matter of "IF" you will become a victim, but rather "WHEN" you will become a victim. Every American needs to be protected! To learn more about how to protect you and your family, please click on the link below. Contact Franklin Financial Group, Inc for special pricing options available.
Franklin Financial Group, Inc. is a strong supporter of the Cystic Fibrosis Foundation. To learn more or to make a donation, please click on the link above.
Franklin Financial Group is Licensed and Regulated by the State of Ohio, Department of Commerce, Division of Financial Institutions, Certificate No: MB.802894.000; the State of Florida, Office of Financial Regulation, Audit No: MBB 0701709; the Commonwealth of Kentucky, Office of Financial Institutions, File No: 20297. NMLS # 1194