Home Equity
Want to use your home to unlock equity? Don’t know where to begin?
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Basics to Home Equity
Home Equity provides you the ability to access cash for renovations, large purchases, or alternative debt repayment. The higher your credit score the lower your interest rate will be on your loan.
Common types of equity:
- Home equity loans are when you need a large amount of cash such as for a renovation or a wedding. It comes as a lump-sum of cash with a fixed interest rate until it is payed off.
- Home equity lines of credit are similar to a credit card how they are funds that can be accessed at any time. They have variable interest rates.
Did You Know?
- You can potentially get tax breaks if you use one of these loans on your home.
- These types of loans give you the freedom to take out a large amount of money and use it for basically anything you want.
- Home equity loans are typically lower in cost that many other types of loans.
How RateSearch Can Help
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RateSearch is also full of valuable tools and resources like helpful calculators and articles to help you make smart decisions with your next purchase.
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