Home Equity
Unlock Your Home Equity with a Line of Credit
Home equity is the cash value left in your home after your current mortgage amount is subtracted from the value of your home. It is money sitting there.
People often think that a home is money they can never spend. They have never heard of the home equity loan. Today nearly a third of homeowners use the home equity loan facility, such as the one we originate, to finance the things that are important to them.
Obviously its prudent not to spend these "accumulating cash reserves" on frivolous things. But when you have projects such as home improvements and remodelling, things that could add further value to your home and give you pleasure at the same time, it makes sense to consider using your home equity for this purpose.