When you get a home equity loan, you are borrowing against your ownership in a property. The equity is the value of the house minus your mortgage balance. A home equity loan uses your equity as collateral.
With the right approach, using your home equity can be a savvy way to manage your finances. A house equity loan and line of credit can be used for anything including debt consolidation, tuition or medical expenses. You can use your home equity to fund other investments -whether it’s buying a car, renovating your home or investing in a second property.
Unlike the traditional home equity loan procedures which typically take at least a month from start to finish, Sky Financial Corporation – The Mortgage Centre offers its clients an immediate decision on whether or not they have been approved to receive loan funds. Our consultants offer a faster, more convenient, affordable and hassle-free way to get a home equity loan.
For more information about our mortgage services, visit our website or call us at 1-800-472-9791.
