There's More Than One Reason

           To Refinance Your Home

You want freedom?  You want to make dreams come real?  Or maybe you've encountered an emergency that needs cash?  A home equity loan is a great way to get that cash.

Home Equity is the difference between the market value of your house and what you presently owe on your mortgage.  If you've owned a home for the past several years, it's more than likely to have appreciated in value (six percent a year on average; in some areas a lot more).  A home equity loan allows you to turn that appreciation into cash.  Use it to remodel your home, consolidate high-interest debt, purchase the car of your dreams, pay for tuition.  The appreciation is yours;  and so is the cash.  Use it to simplify, enhance, or change your life.

Refinancing with a Hometown Mortgage loan can lower the total amount you pay out each month. You can even arrange to have extra cash.  Here are some reasons you may want to think about a Home Equity Loan:

• Consolidate your high-interest debt.  Consolidate high-interest debt such as credit cards. Your overall monthly payments will be reduced and may even be tax deductible*.

• Get extra cash.  Refinancing can give you extra cash for the things you've always wanted to do like buying a new car, taking that long-deserved vacation, or paying for a child's college education.  It's your choice.

• Home Improvement Loans.  Fix the roof, purchase new kitchen cabinets, or remodel to increase the value of your home.

• Family/Medical expenses.  Pay off  the doctor, dentist, or hospital for those unexpected family emergencies. 

• Pay Taxes.  Get the money you need to pay the IRS or your City/County & School taxes.

• Take a 30-day break from payments. Your first new payment is usually not due for 30 days or more.

• We're right in your neighborhood.  You will find us just a phone call away.

• The care you want, the service you deserve.  Your loan officer will take care of you through every step of the loan process — from application to approval.

Here's an example of how Hometown Mortgage can help you lower your monthly payments:

Type of Loan	APR	Balance	Minimum Payment	Term
Credit Cards	18.00%	$16,000	$300.00	revolving
Retail Store Charges	21.00%	$3,500	$225.00	revolving
Personal Loans	15.00%	$7,500	$178.00	5 year
Auto Loan	9.50%	$15,000	$315.00	5 year
Present Home Loan	8.25%	$125,000	939.08	30 year
Total		$167,000	$1904.08
Hometown Mortgage Home Equity Loan	5.50%	$167,000	$947.23	30 year
Total Monthly Savings			($956.85)

Call Today and start saving Tomorrow!

* Please consult with your tax consultant for details.

Hometown Mortgage      -      1710 Westminster      -      Denton, TX  76205

Phone: 940-243-5000      -      Fax:  940-387-5043

© Copyright 2001, Hometown Mortgage.  All Rights Reserved.

TX Mortgage Brokers License# 15411

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