Sentences with phrase «by accessing the equity in your home»

There's a lot of strategies you could do, a lot of creative things that can be done by accessing the equity in your home.

Finance a major purchase or project by accessing the equity in your home with Nusenda Credit Union home equity loans and home equity lines of credit (HELOC).

Not exact matches

Homeowners age 62 or over can apply for a reverse mortgage, a loan that allows them access a portion of their home equity while staying in their home and maintaining the title.4 The loan works by allowing seniors to borrow against the value of their home and defer mortgage payments until after the last remaining occupant has moved out or passed away.

It is important to know about equity because any equity you have can potentially be accessed in cash by getting a home equity loan.

In comparison to selling your home and moving, a reverse mortgage loan may provide a more cost efficient option by allowing the homeowner to access a portion of their home equity.

Both home equity loans and home equity lines of credit provide access to funds by allowing you to borrow against the equity in your home.

Under the adjustable rate reverse mortgage, homeowners can choose to receive home equity in monthly payments, term or tenure payments (a term payment being for a set term established by the borrower and a tenure payment being a payment for life), in a line of credit that you can access when you want, or a combination of any of these choices (i.e. a small lump sum to make repairs now, a portion in a line of credit to be able to access for later needs and the remainder in monthly payments for life).

Of course, accessing that equity means that you either have to pay interest by getting a loan secured by that equity, or that you sell your home for a large chunk of capital, and then use that money to make another purchase, or to invest in some way.

In comparison to selling your home and moving, a reverse mortgage loan may provide a more cost efficient option by allowing the homeowner to access a portion of their home equity.

Because you are building equity faster, more of your money is tied up in a pool of savings that you can access only by selling the house or borrowing with a HELOC or home equity loan.