Maryland 125% Mortgage Loans.

125% Mortgage - is a home equity loan that allows you to borrow more than the value of the home, usually in the form of a second mortgage.

Maryland 125% Cash Out. - A refinance for more than the balance of the current mortgage. The excess money taken out reduces the borrower’s equity.

Maryland 125% Refinancing. - The process of paying off one loan with the proceeds from a new loan secured by the same property.

Maryland 125% Mortgage Loan. - A loan for which real estate serves as collateral to provide for repayment in case of default.

Maryland Home Equity Loan. - An additional mortgage secured by the equity in the home. All funds for this loan are disbursed at closing. (In contrast, see Home Equity Line Of Credit).

Maryland Home Equity Line Of Credit. - A revolving line of credit secured by the equity in the home. Unlike a Home Equity Loan, these funds may be drawn and repaid like a credit card.