HOME EQUITY CASH OUT CASH OUT REFINANCE ALTERNATIVE
PURCHASE A SECOND HOME OR INVESTMENT PROPERTY
WANT TO RETAIN LIQUIDITY BUT DONE HAVE A DOWN PAYMENT? LEVERAGE THE EQUITY IN YOUR HOME TO MAKE THAT PURCHASE.
RENOVATE
AFFORDABLE HOME RENOVATIONS AND UPGRADE BY UNLOCKING THE EQUITY IN THEIR HOME.
CONSOLIDATE DEBT
CONSOLIDATE CREDIT CARD AND OTHER DEBT WITH A HOME EQUITY LOAN.
LARGE PURCHASE / FAMILY PRIORITIES
LEVERAGE EQUITY FOR A LARGE PURCHASE, DREAM VACATION OR COLLEGE TUITION.
Home Equity Loan & Home Equity Line of Credit
HOME EQUITY LINE OF CREDIT (HELOC):
A home Equity Line of Credit (HELOC) is a line of credit giving you a revolving credit line to use at your will. It can be used for large purchases such as renovations, tuition or emergency expenses.
HOME EQUITY LOAN:
Similar to a cash out refinance, a home equity loan will provide you with a lump sum of cash; as much as 95% of your home’s equity. It acts as a 2nd mortgage, where a cash out refinance transforms your first mortgage into a completely new mortgage.
- Access to a line of credit up to a certain You choose how much (or how little) to use
- Variable interest rate — your interest rate could decrease if your credit improves or market interest rates drop
- Lower interest rate compared to other loan options, such as a personal loan
- Credit line available for use as you see fit (including emergencies)
- Interest-only payment options
- Receive a lump sum of money upfront
- Fixed interest rate and a fixed monthly payment
- Lower interest rate compared to other loan options, such as a personal loan
- Can’t take out more money for an emergency without another loan
