Debt consolidation
Your Home Is Full of Untapped Potential
Access your home equity. Explore your opportunities.
Access your home equity. Explore your opportunities.
Your home equity is the difference between your home s current market value and how much you owe on your mortgage essentially, it s how much of your home you own.
With every mortgage payment, you decrease your outstanding principal and potentially increase your home equity.
Additionally, you can build home equity if your property value increases.
After you’ve built enough home equity, you can access it with a home equity loan or home equity line of credit (HELOC).
A home equity loan lets you borrow against the equity you’ve built in your home, which you’ll receive in cash at closing to use on whatever you need. The amount of money you can take out depends on how much equity you have in
your home.
This type of loan is a second mortgage in addition to your original one and typically a fixed-rate product.
Benefits:
cards.
Much like a credit card, a HELOC is a revolving line of credit that you can borrow against the equity in your home. You will be able to withdraw funds as needed during the draw period.
After the draw period is the repayment period in which you will not be able to access funds anymore and you’ll need to repay what you borrowed. HELOCs are often adjustable-rate products and are also considered 2nd mortgages.
Benefits:
cards.
Debt consolidation
Home improvement
Medical expenses
Start a small business
Buy investment property
Education tuition
Large Celebrations
Emergency Fund
And More!
Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
