First, a definition. The equity you have in your home is equal to the appraised value of your home minus the amount you still owe on your mortgage. For instance, if your home is worth $200,000, and you still owe $120,000 on your mortgage, you have $80,000 in equity. If approved, your home equity line of credit would be determined based on the equity in your home, qualifying income, and your creditworthiness.
So what can you do with your equity? Quite a bit.
Remodel your kitchen. Or bathroom. Or create the outdoor space you imagined the first time you saw the backyard.
Plan a trip. Sometimes it seems that planning a trip is almost as much fun as the trip itself. And it’s always good to have something to look forward to.
Cover an unexpected expense. A new air conditioner? A new roof? A car repair? Hey, life happens, and it’s often expensive.
So no matter which reason is yours, when you open a HELOCPlus+ from Avadian, you’ll be able to tap into the equity in your home to cover it – and you can apply for one right from your home.
What's a HELOCPlus+? Good question. Read more about the HELOCPlus+ here.
And if you use the HELOCPlus+ for home improvements, you may be able to deduct the interest from your taxes. Consult a tax advisor regarding the deductibility of interest.
Ready to get started? Click here to apply now without even leaving home.
Equal Housing Opportunity Lender
NMLS #422274
Equal Housing Opportunity Lender