Why borrow against home equity?
Home equity is the difference between the value of your home and the unpaid balance of your current mortgage.
For example, if your home is worth $250,000 and you owe $150,000 dollars on your mortgage, you'd have $100,000 in home equity.
Your home equity goes up in two ways:
- As you pay down your mortgage;
- If the value of your home increases.
You may be able to borrow money that will be secured by your home equity.
Benefits of Borrowing Against your Home
- Provide access to large amounts of money
- Lower interest rates
- Easier to qualify for than other types of loans
- Flexible repayment terms
- Fixed interest rate for the duration of the term
How can Climb Help?
Start your Journey to become debt free and rebuild your credit with Climb.
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