The $11.5 Trillion Equity Opportunity

Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard talk about the fact that there is $11.5 in home equity available in the market. 

Homeowners are sitting on a lot of equity. Tappable equity is 80% of the current value of the home. Did you know, you can leverage the equity in your favor? The two types of loan we are discussing is HELOAN (Home equity loan) which is basically a new mortgage so that you can tap into the value you've accumulated, and a HELOC (home equity line of credit) is like a credit card against your equity. However, the interest rates are higher and they amortize in shorter periods - up to 10 years. 

There's a time and a place for both, such as if you want to remodel a bathroom or add in new landscaping. These are a couple of reason's you might get these loans.
 
Listen in as we discuss this and more! 

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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.