Unlock the equity in your home to gain access to cash for any reason. Our local licensed money lenders are experts at home equity loans or lines of credit and will help you decide what's right for you.
Tap the Power of Your Home's Equity
Now is a great time to consider getting a Home Equity Loan or Home Equity Line of Credit (HELOC). Get cash for anything you need using the equity you've built up in your house.
Do you need cash to:
Make home improvements or repairs.
Pay medical expenses.
Buy a car.
Pay school tuition.
Pay unexpected expenses.
Home equity is determined by taking the value of your house and deducting any mortgage, lien or other loan balance you have. For example, if your house is worth $250,000 and your mortgage balance is $115,000, your equity is $135,000. That equity can be used for any purpose.
Whether you need money for a specific purpose like a home repair or recurring expenses such as a student tuition, our local lenders can help you decide what home equity loan terms are right for your financial needs. You can apply for a home equity loan or a revolving line of credit, which only gets paid back when you use it, and the interest on either type of loan is usually deductible. Consult your tax advisor about potential tax benefits.
At Borrowmoney.com, you can compare offers from multiple local licensed money lenders so you can be sure that you are getting the best deal and product to meet your financial needs. We think it's important that you understand the home equity loan terms and are satisfied with your experience.