Looking for an easy way to access your home's equity?
I'm here to help you figure how to do this
A Home Equity Line of Credit is one of the quickest ways for us to use our house equity. Often, we think selling is the only way to access our home equity; it’s just not the case! This can be set up in two different ways:
Home Equity Line of Credit Options:
First, provided that you have a 20% down payment or greater at the time of purchase, I can arrange for your mortgage lender to set up the home equity line of credit along with your standard mortgage. In this scenario, as you pay down the fixed portion of your mortgage, this available equity would move onto your line of credit.
Second, once you have 20% equity in your house or greater, we can refinance your existing mortgage. In the refinance, we will include a new line of credit. We could also consider leaving your existing mortgage as is and adding the line of credit as a second mortgage. The main benefit of working with me is brainstorming what options will save you the most money and make sense for your family.