A home equity line of credit can help you put your home’s equity to good use.
Do you have several thousand dollars of equity in your Georgian Triangle home? If so, you may start to envision what you could do with this funding if you decided to take out a second mortgage, but this is not always the best move depending on your financial goals. If there is no pressing need for a second mortgage, a better option may be a home equity line of credit.
Our team here at BRM Lending can go over your short and long-term goals to properly advise you of your options. After we do this, we will put together a few options from different lenders, negotiating with them on your behalf to secure the best solution for your needs and financial goals.
A home equity line of credit can be equal to the amount of equity you have in your home, so one of the factors we consider is your comfort level with having a certain amount of funding easily accessible. In most cases, we advise that even if you can use all your equity, it doesn’t mean you should. We also look at what you intend to use the funding for and the payments you feel comfortable with. This way, you can effectively manage your home equity line of credit without feeling overwhelmed.
Above all, we will fully explain the terms of your home equity line of credit, so you understand how this financing solution works and how it can affect your finances on a long-term basis. Contact us today to get started!