Home Equity Benefits

What can you use your Home Equity's for?. There's a room for your budget.

Home Equity Benefits

Before you decide to use your house as a collateral, you should also consider the pros and cons of a home equity loan or line of credit.

Home Equity loans and lines of credit can be used to pay for a variety of things including major renovations, debt consolidation, college tuition, major purchases and more.

Consider the benefits

A Home Equity loan or line of credit gives you cash that you can use any way you wish. You can:

  • Borrow up to 89.9% of the fair market value of your home.
  • Interest rates are typically lower than credit cards and other loans.
  • how much money you want to take out.
  • The interest paid may be tax-deductible; consult a tax professional to assess your situation

  • Understand the risks

    Since a Home Equity loan uses your home as collateral, you also need to consider potential risks:

  • You can lose your home for missing payments.
  • The maximum amount borrowed is a portion of your home's value which is determined by the market so if the market takes a down turn you can owe more than your house is worth

  • Take the next step

    To find out if a Home Equity loan or line of credit is right for your situation, contact any of our brokers/consultants today.


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