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Frequently Asked Questions
- What can I do with the money I cash out?
- How can I find out what my Home is worth?
- What is a Home equity line of credit?
- Can I get a fixed rate on my Home equity line of
credit?
- How much equity can I borrow?
- I’m renting one
of my homes can cash out equity on that property?
- Do I need to get an appraisal to cash out?
- How quickly can I cash
out?
What can I do with the money I cash out?
Anything you want, the equity built up in your home
is yours and you can spend the cash on whatever your
heart desires.
How can I find out what my Home is worth?
When we pre qualify you we will run a comparables
search of your property and get a ball park figure
of what your home is worth. We would need an
appraisal done to find out the true value of your home.
What is a Home equity line of credit?
A Home equity line of credit or HELOC as its referred
to is a line of credit that uses your home as collateral. Unlike
a equity loan you do not get all the money at once,
although you can if you want it, the money on credit
so whatever you spend you can payback and those funds
will be available for you in the future. The
interest rate on a HELOC is normally an adjustable
rate.
Can I get a fixed rate on my home equity line of credit?
Yes, you can receive a fixed rate through our lenders.
How much equity can I borrow?
If you like we can cash out all the equity in your
home.
Do I need to get an appraisal to cash out?
Yes, we need to know exactly what your homes worth
to find out exactly how much equity you have in your
home.
How quickly can I cash out?
On average it takes around 4 weeks, but we have cashed
out in less then two weeks it just depends on how soon
documents are sent in. |
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