BD Nationwide Mortgage introduces an affordable only home equity loan that features an interest only payment option with a fixed rate. This second mortgage allows borrowers to get a fixed mortgage rate while also benefiting from a reduced payment and increased cash flow. Homeowners have the luxury of converting their home equity line of credit into a fixed rate second mortgage while keeping the interest only option. BD Nationwide has released several new second mortgage products in 2006 that have offered additional "cash out" opportunities for homeowners without requiring them to refinance their existing first mortgage.

(PRWeb) December 13, 2006 -- BD Nationwide Mortgage introduces an affordable home equity loan that features an interest only payment option with a fixed rate. This second mortgage allows borrowers to get a fixed mortgage rate while also benefiting from a reduced payment and increased cash flow. Homeowners have the luxury of converting their home equity line of credit into a fixed rate second mortgage while keeping the interest only option. BD Nationwide has released several new second mortgage products in 2006 that have offered additional "cash out" opportunities for homeowners without requiring them to refinance their existing first mortgage.

BD Nationwide proudly presents the "Interest Only Fixed Rate Home Equity Loan." This unique second mortgage program allows homeowners to maintain the affordibilty of interest only payments but also have the security of a fixed interest rate. Interest only loan options are available with home equity credit lines and second mortgage HELOC conversion up to 100% combined loan-to-value. Borrowers can choose from 3,5 or 7 year fixed rate equity loan terms. The 125% second mortgage product does not offer interest only payment features at this time.

      To read the rest of this release, click here.