Learning About your Home Equity

Couple Speaking with Lending Specialist

Home Equity is the difference between how much you owe on your home and how much it is worth. Paying down your mortgage and increasing market values creates equity in your home.

Looking to take advantage of your home equity?

Here are some ways you can leverage the equity in your home.

Use it to make a down payment on a new home

Are you ready for more house? Most people will move a few times and saving for your next home while covering all your existing expenses may seem impossible.

Most people will use the equity in their existing home as part of their down payment on their new home, making the transition seamless and reducing the need for additional savings.

Refinancing

If you have additional debt and would like to consolidate it into one payment, refinancing your home may be an option.

The equity in your home will provide you the room to add to your mortgage, paying off your other debt and consolidating into one mortgage payment at our low mortgage rate.  This will reduce your debt payments and save you money on interest.

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) provides you access to credit at a lower interest rate and is secured by your existing home.

You can access your HELOC at any time during your mortgage term, without penalties, with all of the payment options of a traditional Line of Credit.

Contact a Cambrian branch to learn more about leveraging your home equity.