Is your home sitting on untapped cash? Here's how to find out
Your Home May Hold Untapped Financial Value
Rising home values have increased the amount of equity many homeowners have built. For eligible borrowers, that equity can provide a flexible way to access cash when needed.
Home equity is the difference between your home’s current value and the balance remaining on your mortgage. As values rise and loan balances decline, available equity can grow—often more than homeowners realize.
A home equity loan or home equity line of credit (HELOC) allows you to borrow against that value, typically at lower interest rates than credit cards or personal loans. These options do not require refinancing your existing mortgage and can be used for home improvements, debt consolidation, or other major expenses.
Why homeowners use home equity
Interest rates are often lower than unsecured borrowing options
Funds can be used for a wide range of expenses
Potential tax advantages when used for qualifying home improvements. Consult a tax advisor regarding the deductibility of interest and charges.
Existing mortgage terms remain unchanged
Eligibility is generally based on available equity, credit history, and income. At this time, we do not work with advertising partners that offer home equity products to borrowers with a bankruptcy in the last seven years.
Bottom line
If you own a home and need access to cash, your home equity may be worth exploring. Understanding how much equity you have and what options are available can help you make more informed financial decisions.
Explore home equity options to see what may be available.