|
|
 |
Home Equity
Loans
Turn
Your Home's Equity into the Cash you need!
Do
you want freedom? You want your dreams to become
real? Or
maybe you've encountered an emergency that
needs fast cash? A home equity line of credit is a great
way to get the cash you need without refinancing.
Look, if you've owned a home
for the past several years, it's very likely
your house has appreciated in value (4% - 6% a year on average
with
some areas a lot more). A home equity line of credit allows you to turn
that appreciation into cash. Use it to remodel your home, consolidate
high-interest
debt, purchase an item of your dreams (boat, car, etc..)
The appreciation is yours and
so is the cash. Use it to simplify, enhance,
or change your life
A home equity loan lets you use the equity you've built
up in your home
to secure a loan. Home equity will generally have a lower
interest rate
than credit card debt, finance company debt, or installment debt.
In fact
across the nation, 1 out of 8 homeowners already have some form of home
equity, home improvement, or debt consolidation loan.
(see example below)
| Use
this example to find your max equity amount |
Sample Home |
|
Your
home's estimated Current Market Value |
$275,000
value
|
|
Multiply
by 100% LTV (max LTV allowed) |
x1.00
|
|
x
= |
$275,000
|
|
Minus
existing 1st Mortgage Balance |
- $200,000
|
|
Potential
home equity loan or credit line amount |
$75,000
|
|