A home equity loan is a financial product that allows homeowners to borrow against the value of their home.
You can receive a portion of your home’s equity in cash, or the difference between the amount you owe on the mortgage and the home’s market value. For example, if your home is worth $250,000 and the current mortgage balance is $150,000, then you have $100,000 in equity.
Home equity loans allow you to access your equity in a lump sum of cash, which you can use for home improvements. These types of loans usually have fixed interest rates, are fully amortized, and are repaid in fixed monthly installments.
Let Lending Team help you with a home equity loan.
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Lending Teams provides you with a streamlined application process that is much faster than traditional ways of applying for a mortgage.
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