Top 5 Reasons To Unlock And Access Home Equity

Home equity refers to the difference between your home’s current market value and your mortgage balance. As a very important element for your financial future, home equity helps you to build wealth. Retaining equity in your home acts as a resource where you are able to borrow against it in order to enhance your property or simply to pay off any high-interest debts.

What Are The Benefits Of Unlocking And Accessing Home Equity?

Low-Interest Rates

Favourably enough, home equity loans don’t entirely rely merely on only the lender. Financial institutions, including banks and brokers, hand out loans in a way that guarantees a sure return for both themselves and their clients. So, in saying that lower interest rates are offered for home equity loans as compared to other loan types. These low-interest rates prove to be very beneficial on your behalf if you do not have high-interest debt on your credit card. When applying for a home equity loan with Greenline Home Loans, you can ensure that you will receive the best home loans

Ability To Fund Home Renovations

Several homeowners unlock and access their home’s equity to aid in funding a home renovation. If done in an accurate manner, not only is there a possibility to boost a property’s value by more than what is spent, but it can also save you the hassle of having to upsize your home and having to go through the whole inconvenience of selling, buying and moving.

It is crucial to keep in mind to do your research before carrying out such renovations. Ensure that you are careful with your budget, as overcapitalisation – the amount spent for renovations ends up costing more than the value they add to the property – is a very common mistake for amateur renovators.

Power To Borrow Large Sums Of Money

There are individuals who have excellent credit scores that may need to borrow against the value of their home in order to receive a large sum of money. Accessing your equity from the value of your home provides you with easy-to-obtain large sums of money that you may not qualify for through other avenues. If you find yourself in a position where it is necessary to borrow a large sum of money, then a home equity loan would be an excellent option for you.

Home Equity Line Of Credit For Business

If you are searching for something a bit more flexible, a home equity line of credit (HELOC) for your business is a great solution. As compared to standard commercial loans, HELOCs can provide you with the ability to access funds at your convenience, and you are able to take out extra as needed without any retributions.

When it comes to a HELOC, the application and approval process is generally much more trouble-free in contrast to other alternatives. As with a home equity loan, there is a chance that the interest within this loan will be tax-deductible, and the loan terms usually span from 15 to 20 years.

Great Opportunity To Purchase A Commercial Property

If you have owned your home for a few years, there is the possibility that you have built up enough equity. This is a worthy resource when it comes to property investment. Your home equity can be used instead of a cash deposit to buy another property. 

Once you have decided on your commercial loan with Greenline Home Loans, we will work closely with you to get this application process underway and support you all the way through to settlement.

How Do You Unlock and Access Home Equity With Greenline Home Loans?

Below we have summarised the various steps that are involved with unlocking and accessing your equity with Greenline Home Loans.

  1. Determine how much equity is available in your property
  2. Work out the amount of equity that is accessible with your mortgage broker
  3. Evaluate the various loan options with your mortgage broker
  4. Calculate the costs associated with accessing such equity
  5. Loan application and settlement
  6. Access your equity and utilise it for any purposes you feel best

Reach out to Greenline Home Loans today!

In an instance where you may need to borrow some money to achieve some personal goals like renovating your home, purchasing a new car or even travelling overseas, releasing equity from your property is a very favourable option. Here at Greenline Home Loans, you can rely on us for the best home loans with the lowest home loan rates and customer service that you will value for the life of your loan.

If you have been considering buying your first home, buying a residential property, are after a commercial loan or want to access the equity in your home, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.

At Greenline Home Loans, we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider a cash out – equity release. Contact our friendly team of brokers to speak about our low-rate, best home loans on 1800 705 505 to get started today!

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