If you have been living in your home over the past 5 years, you have probably had your net worth increase by a substantial amount. The problem is that net worth is not very liquid.
If you are ready to invest in your own small business, or you need to fund your daughter’s university tuition, your home equity can be a ready source of cash to finance your dreams. Call or message us online and mortgage experts at Lifeline Financial can discuss a home equity loan plan to get your plans moving today.
Mortgage expert at Lifeline Financial also provides debt consolidation, credit repair services across North York, Scarborough, Mississauga, Brampton, Vaughan, Markham, and Toronto.
What is equity?
Equity is the difference between the current appraised value of your home and the balance on your mortgage. Once you buy a home, the value of the house generally goes up with time. As you pay down your mortgage over time, the balance goes down. The difference is the equity. The equity can build up substantially over time and it can contribute to an individual’s net worth.
You can borrow the equity in your home to do so many things:-
- Start a new business
- Finance children’s university education
- Invest in rental properties
- Invest in viable projects
You can access the equity in your home through a HELOC, second mortgage, or refinancing your mortgage.
To apply for a home equity loan, contact Lifeline Financial
Use the mortgage calculator provided online by Lifeline Financial.