Home Equity Lines of Credit
Whether you’re planning a reno, consolidating debt, or starting up a new business, a home equity loan provides complete access to your home’s equity while still keeping your options wide open.
Depending on how much equity you have acquired in your home you could be eligible for a Home Equity Line of Credit. This financing solution can typically provide you with up to 80% of the value of your home, using the equity you’ve acquired as security against the amount borrowed. A Home Equity Line of Credit offers significant benefits through knowing that you have monies available if and when you need them.
Here are just a few of the key benefits with this type of solution:
- Home equity loans typically have lower interest rates
- They are easier to qualify for as compared to traditional mortgages
- Interest costs may be tax deductible depending on the use of funds
- Borrowers can qualify for relatively larger amounts as compared to traditional mortgages
Home equity loans are not for everyone but they are certainly a great financing solution worth your consideration. Reach out to an Optimize Advisor* today and let them structure the right solution for your specific situation and financial goals.