Home Equity Loans
Equity is the difference between the value of your property and the amount you owe on your mortgage. By building equity your aim will be for your home to increase in value compared to the amount you paid for it.
Home equity loans come into play when you choose to re-finance or borrow an amount against the value of your home, providing you with a line of credit on your home loan. Just like any other loan, the amount you can borrow will largely depend on your financial situation. Any assets, existing debts and salary will be considered.
For more information on what equity is read our story on Building Equity
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