A home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. Home equity loans are often used to finance major expenses such as home repairs, medical bills, or college education. A home equity loan creates a lien against the borrower's house and reduces actual home equity.
Most home equity loans require good to excellent credit history, reasonable loan-to-value and combined loan-to-value ratios. Home equity loans come in two types: closed end (traditionally just called a home-equity loan) and open end (aka a home-equity line of credit). Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage. Home equity loans and lines of credit are usually, but not always, for a shorter term than first mortgages. Home equity loan can be used as a person's main mortgage in place of a traditional mortgage. However, one can not purchase a home using a home equity loan, one can only use a home equity loan to refinance. In the United States, in most cases it is possible to deduct home equity loan interest on one's personal income taxes.
Home equity is the market value of a homeowner's unencumbered interest in their real property—that is, the sum of the home's fair market value and the outstanding balance of all liens on the property. The property's equity increases as the debtor makes payments against the mortgage balance, and/or as the property value appreciates. In economics, home equity is sometimes called real property value.
Home equity is not liquid. Home equity management refers to the process of using equity extraction via loans—at favorable, and often tax-favored, interest rates—to invest otherwise illiquid equity in a target that offers higher returns.
Homeowners acquire equity in their home from two sources. They purchase equity with their down payment, and the principal portion of any payments they make against their mortgage. They also benefit from a gain in equity when the value of the property increases. Investors typically look to purchase properties that will grow in value, causing the equity in the property to increase, thus providing a return on their investment when the property is sold.
In the UK an "Equity Loan" is the term used to describe additional borrowing, normally secured as a subsequent charge, as a top-up to the amount a home owner/purchaser can borrow from a main mortgage provider.
Often used by builders to encourage house sales but now also used by the UK governments to assist purchasers who would otherwise be unable to buy with only a conventional main mortgage.
In England such loans are managed on behalf of the government by the Homes & Communities Agency. Devolved governments have their own separate schemes.
Elsewhere in the world
Elsewhere in the world an equity loan may refer to a mortgage loan in which the borrower receives money. Typically the loan is secured by real estate already owned outright.
For example, if a person owns a home worth $100,000, but does not currently have a mortgage on it, they may take an equity loan at 80% loan to value (LTV) or $80,000 in cash in exchange for a mortgage on the title.
Many lending institutions require the borrower to repay only an interest component of the loan each month (calculated daily, and compounded to the loan once each month). The borrower can apply any surplus funds to the outstanding loan principal at any time, reducing the amount of interest calculated from that day onward. Some loan products also allow the possibility to redraw cash up to the original LTV, potentially perpetuating the life of the loan beyond the original loan term.
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published: 10 Jul 2017
How to Get Equity Out Of Your Home - 4 WAYS! | What is Home Equity | What is Equity
🟢Ready to Buy a House & You Don't Know Where to Start? Start Here! My FREE Download: https://bit.ly/3QWqfbq
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⭐ Where Should You Start? - https://youtu.be/0IOl5pAC_Gk
⭐ Most Important People in the Home Buying Process - https://youtu.be/5N70wMXgmgU
⭐ What is Included in your Mortgage Payment: https://youtu.be/P_JC8b6wKMU
⭐New Construction - https://youtu.be/QoCctKxuJxA
⭐FHA or Conventional - https://youtu.be/gXfEGPd3k4Y
⭐Buying a House with Student Loans - https://youtu.be/yunqWv1xIUU
⭐7 Day Perfect C...
published: 30 Mar 2021
What Is A Home Equity Loan? | The Red Desk
Get a free Home Equity Loan quote with RocketMortgage.com. CLICK HERE: https://www.rocketmortgage.com/alf/bam-orbit/loanType?qlsource=TRDs3ep2
Did you know you could tap into the equity of your home to access cash for large expenses or other things life throws your way? In this episode of The Red Desk, we explore the ins and outs, as well as the upsides and downsides, of a home equity loan.
0:00: Intro
0:39: Why You Might Need A Home Equity Loan
1:24: How It Works
2:52: The Upsides Of Home Equity Loans
4:01: The Downsides of Home Equity Loans
4:57 : Other Financing Options
published: 15 Jun 2023
How to Turn Your Home Equity into Monthly Cash Flow
Discover how to turn your home equity into monthly cashflow! Whether you have a nearly paid-off home, own single-family rentals, or simply have untapped home equity, this video is for you! We'll cover what home equity is, how to access it, and how to incorporate it into your commercial real estate investing. Learn more here: https://propadvsr.com/home-equity-to-monthly-cash-flow
Questions or Comments? Text PETER to 833-942-4516
Get your free copy of my best selling book, "Commercial Real Estate for Beginners": https://www.commercialpropertyadvisors.com/book/
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0:00 Unlockin...
published: 01 Aug 2024
What Should I Do With My Home's Equity?
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published: 27 Apr 2019
What is home equity and how can you access it?
Do you have home equity you could be using? In this video, Suncorp Store Manager Amber Nijenhuis explains what home equity is and how you can work out the amount you have.
-----------------------------------
Want more great videos?
Check out Suncorp’s Home Buying Tips video playlist: https://bit.ly/2Gc2ip3
You can also find a comprehensive guide to Buying a Home on Suncorp’s Learn About blog: https://www.suncorp.com.au/learn-about/buying-a-home.html
-----------------------------------
Suncorp is one of Australia's largest financial services brands offering Home and Motor Insurance, Banking, Life Insurance, and Superannuation.
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published: 06 Dec 2017
Home Equity Line of Credit - Dave Ramsey Rant
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📈EntrLeadership ⮕ https://ter.li/g7s9g0
Ramsey So...
published: 26 Jan 2018
How to use the equity in your home to buy an investment property
Tim Graham, Reventon COO, talks about how to use the equity in your home to make buying an investment property a reality.
Want to know how you can grow your property portfolio for as little as $15 a day?
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published: 11 Nov 2019
What is Equity in a Home? #mortgagetips #homeownership #homeequity
published: 08 Jan 2025
The ULTIMATE HELOC Guide - Home Equity Line of Credit Explained
It has been over 2 years since I started producing HELOC Content, but a lot has changed. In this video I share the ultimate HELOC Guide and explain simply what a Home Equity Line of Credit is, how to apply for a HELOC, what to use it for, what not to use it for, as well as whether or not you should be applying for a HELOC. I also share my 3 rules for how to use your HELOC safely and effectively in order to build wealth.
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Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred either directly or indirectly, using any of the information contained in this document. Also, Kris Krohn, this video, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. Homes and information about homes in this video (if any) are historical examples, where past performance does not predict future results. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.
NO INVESTMENT, FINANCIAL, LEGAL OR TAX ADVICE
The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Kris Krohn is not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicle.
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Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred either directly or indirectly, using any of the information contained in this document. Also, Kris Krohn, this video, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. Homes and information about homes in this video (if any) are historical examples, where past performance does not predict future results. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.
NO INVESTMENT, FINANCIAL, LEGAL OR TAX ADVICE
The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Kris Krohn is not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicle.
DISCLOSURE OF FINANCIAL RELATIONSHIP
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🟢Ready to Buy a House & You Don't Know Where to Start? Start Here! My FREE Download: https://bit.ly/3QWqfbq
🚨Do Not Buy a House without My First Time Homebuyer...
🟢Ready to Buy a House & You Don't Know Where to Start? Start Here! My FREE Download: https://bit.ly/3QWqfbq
🚨Do Not Buy a House without My First Time Homebuyer Masterclass with Digital Confidently Closed Handbook, Because After Closing is Too Late: https://bit.ly/47s4pT7 🚨
Ready to Buy Your First House? Watch these videos & Visit my playlists!
⭐8 Steps to Buy a House - https://youtu.be/fgUkwjA12V4
⭐ Where Should You Start? - https://youtu.be/0IOl5pAC_Gk
⭐ Most Important People in the Home Buying Process - https://youtu.be/5N70wMXgmgU
⭐ What is Included in your Mortgage Payment: https://youtu.be/P_JC8b6wKMU
⭐New Construction - https://youtu.be/QoCctKxuJxA
⭐FHA or Conventional - https://youtu.be/gXfEGPd3k4Y
⭐Buying a House with Student Loans - https://youtu.be/yunqWv1xIUU
⭐7 Day Perfect Credit Plan - https://youtu.be/4QU7g6IS7BQ
⭐Can you afford a house: DTI Ratio - https://youtu.be/S3glBuf2fRw
⭐What happens at closing -https://youtu.be/heCUdtcGMls
⭐NACA Home Buying Program -https://youtu.be/HLLluwaAfrQ
⭐Should I Rent or Buy? - https://youtu.be/NPgOyRZKfmU
⭐ Get Your Real Estate License Online- https://youtu.be/kHen6QrArwg
⭐⭐PLAYLISTS - https://www.youtube.com/c/ShaheedahHillRealEstate/playlists
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🚨Do Not Buy a House without My First Time Homebuyer Masterclass with Digital Confidently Closed Handbook, Because After Closing is Too Late: https://bit.ly/47s4pT7 🚨
Ready to Buy Your First House? Watch these videos & Visit my playlists!
⭐8 Steps to Buy a House - https://youtu.be/fgUkwjA12V4
⭐ Where Should You Start? - https://youtu.be/0IOl5pAC_Gk
⭐ Most Important People in the Home Buying Process - https://youtu.be/5N70wMXgmgU
⭐ What is Included in your Mortgage Payment: https://youtu.be/P_JC8b6wKMU
⭐New Construction - https://youtu.be/QoCctKxuJxA
⭐FHA or Conventional - https://youtu.be/gXfEGPd3k4Y
⭐Buying a House with Student Loans - https://youtu.be/yunqWv1xIUU
⭐7 Day Perfect Credit Plan - https://youtu.be/4QU7g6IS7BQ
⭐Can you afford a house: DTI Ratio - https://youtu.be/S3glBuf2fRw
⭐What happens at closing -https://youtu.be/heCUdtcGMls
⭐NACA Home Buying Program -https://youtu.be/HLLluwaAfrQ
⭐Should I Rent or Buy? - https://youtu.be/NPgOyRZKfmU
⭐ Get Your Real Estate License Online- https://youtu.be/kHen6QrArwg
⭐⭐PLAYLISTS - https://www.youtube.com/c/ShaheedahHillRealEstate/playlists
🟦Join My First Time Buyers Facebook Group🟦
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Get a free Home Equity Loan quote with RocketMortgage.com. CLICK HERE: https://www.rocketmortgage.com/alf/bam-orbit/loanType?qlsource=TRDs3ep2
Did you know you...
Get a free Home Equity Loan quote with RocketMortgage.com. CLICK HERE: https://www.rocketmortgage.com/alf/bam-orbit/loanType?qlsource=TRDs3ep2
Did you know you could tap into the equity of your home to access cash for large expenses or other things life throws your way? In this episode of The Red Desk, we explore the ins and outs, as well as the upsides and downsides, of a home equity loan.
0:00: Intro
0:39: Why You Might Need A Home Equity Loan
1:24: How It Works
2:52: The Upsides Of Home Equity Loans
4:01: The Downsides of Home Equity Loans
4:57 : Other Financing Options
Get a free Home Equity Loan quote with RocketMortgage.com. CLICK HERE: https://www.rocketmortgage.com/alf/bam-orbit/loanType?qlsource=TRDs3ep2
Did you know you could tap into the equity of your home to access cash for large expenses or other things life throws your way? In this episode of The Red Desk, we explore the ins and outs, as well as the upsides and downsides, of a home equity loan.
0:00: Intro
0:39: Why You Might Need A Home Equity Loan
1:24: How It Works
2:52: The Upsides Of Home Equity Loans
4:01: The Downsides of Home Equity Loans
4:57 : Other Financing Options
Discover how to turn your home equity into monthly cashflow! Whether you have a nearly paid-off home, own single-family rentals, or simply have untapped home eq...
Discover how to turn your home equity into monthly cashflow! Whether you have a nearly paid-off home, own single-family rentals, or simply have untapped home equity, this video is for you! We'll cover what home equity is, how to access it, and how to incorporate it into your commercial real estate investing. Learn more here: https://propadvsr.com/home-equity-to-monthly-cash-flow
Questions or Comments? Text PETER to 833-942-4516
Get your free copy of my best selling book, "Commercial Real Estate for Beginners": https://www.commercialpropertyadvisors.com/book/
Every successful commercial real estate investor has a mentor. Get your mentor here: https://www.commercialpropertyadvisors.com/protege-program/
For more great videos like this, go to @CommercialPropertyAdvisors
0:00 Unlocking Home Equity for Cash Flow
1:15 Word of Wisdom on Using Your Home Equity
2:57 What is Home Equity?
4:26 How to Tap into Your Home Home Equity
5:21 Home Equity Line of Credit (HELOC)
6:25 Cash-Out Refinance
7:35 Sell
7:54 1031 Exchange
9:07 Once You Have Your Equity, What's Next?
9:17 Get Educated
9:59 Master One Property Type
10:46 Learn the Basics and Analyze Deals
12:30 Start Making Offers
13:26 Investing Equity in a 12-Unit Multifamily for Cash Flow: HELOC Method
17:25 Benefits of Using Your Equity to Buy Commercial Property
Discover how to turn your home equity into monthly cashflow! Whether you have a nearly paid-off home, own single-family rentals, or simply have untapped home equity, this video is for you! We'll cover what home equity is, how to access it, and how to incorporate it into your commercial real estate investing. Learn more here: https://propadvsr.com/home-equity-to-monthly-cash-flow
Questions or Comments? Text PETER to 833-942-4516
Get your free copy of my best selling book, "Commercial Real Estate for Beginners": https://www.commercialpropertyadvisors.com/book/
Every successful commercial real estate investor has a mentor. Get your mentor here: https://www.commercialpropertyadvisors.com/protege-program/
For more great videos like this, go to @CommercialPropertyAdvisors
0:00 Unlocking Home Equity for Cash Flow
1:15 Word of Wisdom on Using Your Home Equity
2:57 What is Home Equity?
4:26 How to Tap into Your Home Home Equity
5:21 Home Equity Line of Credit (HELOC)
6:25 Cash-Out Refinance
7:35 Sell
7:54 1031 Exchange
9:07 Once You Have Your Equity, What's Next?
9:17 Get Educated
9:59 Master One Property Type
10:46 Learn the Basics and Analyze Deals
12:30 Start Making Offers
13:26 Investing Equity in a 12-Unit Multifamily for Cash Flow: HELOC Method
17:25 Benefits of Using Your Equity to Buy Commercial Property
💵 Start eliminating debt for free with EveryDollar - https://ter.li/3w6nto
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us ...
💵 Start eliminating debt for free with EveryDollar - https://ter.li/3w6nto
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us a message - https://www.ramseysolutions.com/shows/the-ramsey-show/email
Next Steps:
📈 Are you on track with the Baby Steps? Get a Free Personalized Plan - https://ter.li/5h1r0i
📱Download your free Ramsey Network app today! - https://ter.li/cvqzyb
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ https://ter.li/rqwdws
🍸 Smart Money Happy Hour ⮕ https://ter.li/tmj3vq
🧠 The Dr. John Delony Show ⮕ https://ter.li/s5yazz
💰 George Kamel ⮕ https://ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ https://ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ https://ter.li/v8n4u8
📈EntrLeadership ⮕ https://ter.li/g7s9g0
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New! 2025 Ramsey Goal Planner: https://store.ramseysolutions.com/personal-growth/books/ramsey-goal-planner/?srsltid=AfmBOorw-BZsoX-FVD1QT7J1C2Az05oKd1y9ymklJ0h9xOQEDuNzZn8EJzQ&utm_content=YT3-eCsuX4-xiw9nfO5Oiy-CsrB4R2O9jVuTxzvrzxnxHPEZb9Ps_CpVH1Wm7of6z8nPEwY8C-lpWFDY_9vD7llBPDyH6-iGiRlOy3J7XKGkPA&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
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Baby Steps Millionaires: https://store.ramseysolutions.com/money/books/baby-steps-millionaires/?srsltid=AfmBOooQ-z7E0NCmlTreR5hZRmnlyqw65if-f-FefSFRdQMKHeH2-0zn5ME&utm_content=YT3-k_9UjCya_igJcwUqvnKrz18DqX4JYUrSGSZqELgGGj3btkkH5Wfta0rcYhd8dpQSDYGmWXb6d_igYmsH9NMy8HnW6rn3vmioW03rlpMW_g&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
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New! Breaking Free From Broke https://store.ramseysolutions.com/money/books/breaking-free-from-broke-by-george-kamel/?srsltid=AfmBOoqg2tmzTJm-QJLkfwvZyyO4Ur5CoJsDMo1xb_VXoKMIyhgA2nA0NSs&utm_content=YT3-ezsswV9tyVa8rWh_0AQ2dDgHPSnGJ88GFyKnAzXkuIiXbw6kHEoqcpKndrO03ygdQ3_fsS_tAsKrZ0bcibDgAHXMx-DPRRBDj3QUiGo9-A&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Get Clear Career Assessment: Find the Work You’re Wired to Do https://store.ramseysolutions.com/business-and-career/books/get-clear-career-assessment-by-ken-coleman/?srsltid=AfmBOoq-R1r9adZL5ANIxetJ5xuLfsDkSw0CVLyrmOL0d9gNUF2CEoWogLE&utm_content=YT3-khaXlZkd7NOrpVpq8EUY5f_HNrWBxWdek5FqKGwv7sil68ynkwfD0nuy-NlQSu9e1RN6lrZRxQQd7mJ_r4E5SUmG_lLemxqj1VGKrZkpow&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Know Yourself, Know Your Money https://store.ramseysolutions.com/money/books/know-yourself-know-your-money-by-rachel-cruze/?srsltid=AfmBOoqgDh-mskdwDrspH-8GTQXkiaKs7-1pETlHnKjDDdTQUsBE5l8EwEA&utm_content=YT3-HBGCZgJLk2WLUDwSaC0UL-CR043IdPoZ73a5g4grlZCUl8LZAD4DP1FRkBeBbIPmWR4RPG_vLcKOLcWtBUxrTSWZefdn0RsGLl0VRBActg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
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💰 George Kamel ⮕ https://ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ https://ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ https://ter.li/v8n4u8
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Baby Steps Millionaires: https://store.ramseysolutions.com/money/books/baby-steps-millionaires/?srsltid=AfmBOooQ-z7E0NCmlTreR5hZRmnlyqw65if-f-FefSFRdQMKHeH2-0zn5ME&utm_content=YT3-k_9UjCya_igJcwUqvnKrz18DqX4JYUrSGSZqELgGGj3btkkH5Wfta0rcYhd8dpQSDYGmWXb6d_igYmsH9NMy8HnW6rn3vmioW03rlpMW_g&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Building a Non-Anxious Life https://store.ramseysolutions.com/personal-growth/books/building-a-non-anxious-life-by-dr-john-delony/?srsltid=AfmBOoqBOPJsdZytDjwoEUrj9hYI0YYTFacFpAGKhiFB4f3CQ_HagdyKDXg&utm_content=YT3-Mazzp2MBOZrHQ1zDS_EwoI7Jmd4kuFeJAjp1uV_mfHxL5k9ZfKQGm5xWuUjryhG2PntDrCYZ9adtGtnMpixSU-TCH8U26lHJSMXR5iMUQg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Breaking Free From Broke https://store.ramseysolutions.com/money/books/breaking-free-from-broke-by-george-kamel/?srsltid=AfmBOoqg2tmzTJm-QJLkfwvZyyO4Ur5CoJsDMo1xb_VXoKMIyhgA2nA0NSs&utm_content=YT3-ezsswV9tyVa8rWh_0AQ2dDgHPSnGJ88GFyKnAzXkuIiXbw6kHEoqcpKndrO03ygdQ3_fsS_tAsKrZ0bcibDgAHXMx-DPRRBDj3QUiGo9-A&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Get Clear Career Assessment: Find the Work You’re Wired to Do https://store.ramseysolutions.com/business-and-career/books/get-clear-career-assessment-by-ken-coleman/?srsltid=AfmBOoq-R1r9adZL5ANIxetJ5xuLfsDkSw0CVLyrmOL0d9gNUF2CEoWogLE&utm_content=YT3-khaXlZkd7NOrpVpq8EUY5f_HNrWBxWdek5FqKGwv7sil68ynkwfD0nuy-NlQSu9e1RN6lrZRxQQd7mJ_r4E5SUmG_lLemxqj1VGKrZkpow&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Know Yourself, Know Your Money https://store.ramseysolutions.com/money/books/know-yourself-know-your-money-by-rachel-cruze/?srsltid=AfmBOoqgDh-mskdwDrspH-8GTQXkiaKs7-1pETlHnKjDDdTQUsBE5l8EwEA&utm_content=YT3-HBGCZgJLk2WLUDwSaC0UL-CR043IdPoZ73a5g4grlZCUl8LZAD4DP1FRkBeBbIPmWR4RPG_vLcKOLcWtBUxrTSWZefdn0RsGLl0VRBActg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Do you have home equity you could be using? In this video, Suncorp Store Manager Amber Nijenhuis explains what home equity is and how you can work out the amoun...
Do you have home equity you could be using? In this video, Suncorp Store Manager Amber Nijenhuis explains what home equity is and how you can work out the amount you have.
-----------------------------------
Want more great videos?
Check out Suncorp’s Home Buying Tips video playlist: https://bit.ly/2Gc2ip3
You can also find a comprehensive guide to Buying a Home on Suncorp’s Learn About blog: https://www.suncorp.com.au/learn-about/buying-a-home.html
-----------------------------------
Suncorp is one of Australia's largest financial services brands offering Home and Motor Insurance, Banking, Life Insurance, and Superannuation.
Follow us on social media
Facebook: https://www.facebook.com/suncorpAUNZ/
LinkedIn: https://au.linkedin.com/company/suncorp
Twitter: https://twitter.com/suncorp
Do you have home equity you could be using? In this video, Suncorp Store Manager Amber Nijenhuis explains what home equity is and how you can work out the amount you have.
-----------------------------------
Want more great videos?
Check out Suncorp’s Home Buying Tips video playlist: https://bit.ly/2Gc2ip3
You can also find a comprehensive guide to Buying a Home on Suncorp’s Learn About blog: https://www.suncorp.com.au/learn-about/buying-a-home.html
-----------------------------------
Suncorp is one of Australia's largest financial services brands offering Home and Motor Insurance, Banking, Life Insurance, and Superannuation.
Follow us on social media
Facebook: https://www.facebook.com/suncorpAUNZ/
LinkedIn: https://au.linkedin.com/company/suncorp
Twitter: https://twitter.com/suncorp
💵 Start eliminating debt for free with EveryDollar - https://ter.li/3w6nto
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us ...
💵 Start eliminating debt for free with EveryDollar - https://ter.li/3w6nto
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us a message - https://www.ramseysolutions.com/shows/the-ramsey-show/email
Next Steps:
📈 Are you on track with the Baby Steps? Get a Free Personalized Plan - https://ter.li/5h1r0i
📱Download your free Ramsey Network app today! - https://ter.li/cvqzyb
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ https://ter.li/rqwdws
🍸 Smart Money Happy Hour ⮕ https://ter.li/tmj3vq
🧠 The Dr. John Delony Show ⮕ https://ter.li/s5yazz
💰 George Kamel ⮕ https://ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ https://ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ https://ter.li/v8n4u8
📈EntrLeadership ⮕ https://ter.li/g7s9g0
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Questions for Humans: Couples https://store.ramseysolutions.com/personal-growth/conversation-cards/questions-for-humans-couples/?srsltid=AfmBOore7pM0L47JFSh7OSi3Cdnvxue8GRIcldeUp3V8--1WaVuPrETmpfo&utm_content=YT3-bsTwF3W0jeyJenG6oNzdmHnQIB4G7Cwa0c1-8j3S2ai2J_GbucWXrlG6asDVn1ueu-qARHIWlDtM5McH4QGuo8my9YWQ2umsZxha9bTWpA&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! 2025 Ramsey Goal Planner: https://store.ramseysolutions.com/personal-growth/books/ramsey-goal-planner/?srsltid=AfmBOorw-BZsoX-FVD1QT7J1C2Az05oKd1y9ymklJ0h9xOQEDuNzZn8EJzQ&utm_content=YT3-eCsuX4-xiw9nfO5Oiy-CsrB4R2O9jVuTxzvrzxnxHPEZb9Ps_CpVH1Wm7of6z8nPEwY8C-lpWFDY_9vD7llBPDyH6-iGiRlOy3J7XKGkPA&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
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Baby Steps Millionaires: https://store.ramseysolutions.com/money/books/baby-steps-millionaires/?srsltid=AfmBOooQ-z7E0NCmlTreR5hZRmnlyqw65if-f-FefSFRdQMKHeH2-0zn5ME&utm_content=YT3-k_9UjCya_igJcwUqvnKrz18DqX4JYUrSGSZqELgGGj3btkkH5Wfta0rcYhd8dpQSDYGmWXb6d_igYmsH9NMy8HnW6rn3vmioW03rlpMW_g&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Building a Non-Anxious Life https://store.ramseysolutions.com/personal-growth/books/building-a-non-anxious-life-by-dr-john-delony/?srsltid=AfmBOoqBOPJsdZytDjwoEUrj9hYI0YYTFacFpAGKhiFB4f3CQ_HagdyKDXg&utm_content=YT3-Mazzp2MBOZrHQ1zDS_EwoI7Jmd4kuFeJAjp1uV_mfHxL5k9ZfKQGm5xWuUjryhG2PntDrCYZ9adtGtnMpixSU-TCH8U26lHJSMXR5iMUQg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Breaking Free From Broke https://store.ramseysolutions.com/money/books/breaking-free-from-broke-by-george-kamel/?srsltid=AfmBOoqg2tmzTJm-QJLkfwvZyyO4Ur5CoJsDMo1xb_VXoKMIyhgA2nA0NSs&utm_content=YT3-ezsswV9tyVa8rWh_0AQ2dDgHPSnGJ88GFyKnAzXkuIiXbw6kHEoqcpKndrO03ygdQ3_fsS_tAsKrZ0bcibDgAHXMx-DPRRBDj3QUiGo9-A&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Get Clear Career Assessment: Find the Work You’re Wired to Do https://store.ramseysolutions.com/business-and-career/books/get-clear-career-assessment-by-ken-coleman/?srsltid=AfmBOoq-R1r9adZL5ANIxetJ5xuLfsDkSw0CVLyrmOL0d9gNUF2CEoWogLE&utm_content=YT3-khaXlZkd7NOrpVpq8EUY5f_HNrWBxWdek5FqKGwv7sil68ynkwfD0nuy-NlQSu9e1RN6lrZRxQQd7mJ_r4E5SUmG_lLemxqj1VGKrZkpow&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Know Yourself, Know Your Money https://store.ramseysolutions.com/money/books/know-yourself-know-your-money-by-rachel-cruze/?srsltid=AfmBOoqgDh-mskdwDrspH-8GTQXkiaKs7-1pETlHnKjDDdTQUsBE5l8EwEA&utm_content=YT3-HBGCZgJLk2WLUDwSaC0UL-CR043IdPoZ73a5g4grlZCUl8LZAD4DP1FRkBeBbIPmWR4RPG_vLcKOLcWtBUxrTSWZefdn0RsGLl0VRBActg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
💵 Start eliminating debt for free with EveryDollar - https://ter.li/3w6nto
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us a message - https://www.ramseysolutions.com/shows/the-ramsey-show/email
Next Steps:
📈 Are you on track with the Baby Steps? Get a Free Personalized Plan - https://ter.li/5h1r0i
📱Download your free Ramsey Network app today! - https://ter.li/cvqzyb
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ https://ter.li/rqwdws
🍸 Smart Money Happy Hour ⮕ https://ter.li/tmj3vq
🧠 The Dr. John Delony Show ⮕ https://ter.li/s5yazz
💰 George Kamel ⮕ https://ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ https://ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ https://ter.li/v8n4u8
📈EntrLeadership ⮕ https://ter.li/g7s9g0
Ramsey Solutions Privacy Policy
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Product Links:
Total Money Makeover: https://store.ramseysolutions.com/money/books/the-total-money-makeover-by-dave-ramsey/?srsltid=AfmBOoo2L31D-687kUhfmOl5i3Fqdvg1-OOGrpbPon6EC39aAzApbjLOxnA&utm_content=YT3-IvUl-f4l4INXlgfLQgc9ox5Xk470NzVmZgrxkiXbZfl6HRQIUuuFNvgKJZMIkm3jxhMQXTGoAcYjz1sDGEipNhfKGriwy50wnMuD81qYWw&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Questions for Humans: Couples https://store.ramseysolutions.com/personal-growth/conversation-cards/questions-for-humans-couples/?srsltid=AfmBOore7pM0L47JFSh7OSi3Cdnvxue8GRIcldeUp3V8--1WaVuPrETmpfo&utm_content=YT3-bsTwF3W0jeyJenG6oNzdmHnQIB4G7Cwa0c1-8j3S2ai2J_GbucWXrlG6asDVn1ueu-qARHIWlDtM5McH4QGuo8my9YWQ2umsZxha9bTWpA&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! 2025 Ramsey Goal Planner: https://store.ramseysolutions.com/personal-growth/books/ramsey-goal-planner/?srsltid=AfmBOorw-BZsoX-FVD1QT7J1C2Az05oKd1y9ymklJ0h9xOQEDuNzZn8EJzQ&utm_content=YT3-eCsuX4-xiw9nfO5Oiy-CsrB4R2O9jVuTxzvrzxnxHPEZb9Ps_CpVH1Wm7of6z8nPEwY8C-lpWFDY_9vD7llBPDyH6-iGiRlOy3J7XKGkPA&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
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Baby Steps Millionaires: https://store.ramseysolutions.com/money/books/baby-steps-millionaires/?srsltid=AfmBOooQ-z7E0NCmlTreR5hZRmnlyqw65if-f-FefSFRdQMKHeH2-0zn5ME&utm_content=YT3-k_9UjCya_igJcwUqvnKrz18DqX4JYUrSGSZqELgGGj3btkkH5Wfta0rcYhd8dpQSDYGmWXb6d_igYmsH9NMy8HnW6rn3vmioW03rlpMW_g&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Building a Non-Anxious Life https://store.ramseysolutions.com/personal-growth/books/building-a-non-anxious-life-by-dr-john-delony/?srsltid=AfmBOoqBOPJsdZytDjwoEUrj9hYI0YYTFacFpAGKhiFB4f3CQ_HagdyKDXg&utm_content=YT3-Mazzp2MBOZrHQ1zDS_EwoI7Jmd4kuFeJAjp1uV_mfHxL5k9ZfKQGm5xWuUjryhG2PntDrCYZ9adtGtnMpixSU-TCH8U26lHJSMXR5iMUQg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Breaking Free From Broke https://store.ramseysolutions.com/money/books/breaking-free-from-broke-by-george-kamel/?srsltid=AfmBOoqg2tmzTJm-QJLkfwvZyyO4Ur5CoJsDMo1xb_VXoKMIyhgA2nA0NSs&utm_content=YT3-ezsswV9tyVa8rWh_0AQ2dDgHPSnGJ88GFyKnAzXkuIiXbw6kHEoqcpKndrO03ygdQ3_fsS_tAsKrZ0bcibDgAHXMx-DPRRBDj3QUiGo9-A&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Get Clear Career Assessment: Find the Work You’re Wired to Do https://store.ramseysolutions.com/business-and-career/books/get-clear-career-assessment-by-ken-coleman/?srsltid=AfmBOoq-R1r9adZL5ANIxetJ5xuLfsDkSw0CVLyrmOL0d9gNUF2CEoWogLE&utm_content=YT3-khaXlZkd7NOrpVpq8EUY5f_HNrWBxWdek5FqKGwv7sil68ynkwfD0nuy-NlQSu9e1RN6lrZRxQQd7mJ_r4E5SUmG_lLemxqj1VGKrZkpow&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Know Yourself, Know Your Money https://store.ramseysolutions.com/money/books/know-yourself-know-your-money-by-rachel-cruze/?srsltid=AfmBOoqgDh-mskdwDrspH-8GTQXkiaKs7-1pETlHnKjDDdTQUsBE5l8EwEA&utm_content=YT3-HBGCZgJLk2WLUDwSaC0UL-CR043IdPoZ73a5g4grlZCUl8LZAD4DP1FRkBeBbIPmWR4RPG_vLcKOLcWtBUxrTSWZefdn0RsGLl0VRBActg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Tim Graham, Reventon COO, talks about how to use the equity in your home to make buying an investment property a reality.
Want to know how you can grow your pr...
Tim Graham, Reventon COO, talks about how to use the equity in your home to make buying an investment property a reality.
Want to know how you can grow your property portfolio for as little as $15 a day?
Get your FREE 45 minute strategy session today ➡️ https://reventon.com.au/contact/
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Level 9/420 St Kilda Rd, Melbourne VIC 3004
#usetheequityinyourhome
#howtobuyaninvestmentproperty #howtouseequityinyourhome #realestateinvestment #propertyinvestment
Tim Graham, Reventon COO, talks about how to use the equity in your home to make buying an investment property a reality.
Want to know how you can grow your property portfolio for as little as $15 a day?
Get your FREE 45 minute strategy session today ➡️ https://reventon.com.au/contact/
▶ Subscribe to our channel ➡️ https://www.youtube.com/channel/UC7AvBAfFPPx-0psbm0QzVzg
▶ Visit our website ➡️ https://reventon.com.au/
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▶ Contact us ➡️ 1300 039 376
Level 9/420 St Kilda Rd, Melbourne VIC 3004
#usetheequityinyourhome
#howtobuyaninvestmentproperty #howtouseequityinyourhome #realestateinvestment #propertyinvestment
It has been over 2 years since I started producing HELOC Content, but a lot has changed. In this video I share the ultimate HELOC Guide and explain simply what ...
It has been over 2 years since I started producing HELOC Content, but a lot has changed. In this video I share the ultimate HELOC Guide and explain simply what a Home Equity Line of Credit is, how to apply for a HELOC, what to use it for, what not to use it for, as well as whether or not you should be applying for a HELOC. I also share my 3 rules for how to use your HELOC safely and effectively in order to build wealth.
Watch My Previous HELOC Videos HERE: https://www.youtube.com/playlist?list=PLGCLGgSsNi6IiG39DDZnRB5Oo8DVoE0Yn
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www.realjaycosta.com
It has been over 2 years since I started producing HELOC Content, but a lot has changed. In this video I share the ultimate HELOC Guide and explain simply what a Home Equity Line of Credit is, how to apply for a HELOC, what to use it for, what not to use it for, as well as whether or not you should be applying for a HELOC. I also share my 3 rules for how to use your HELOC safely and effectively in order to build wealth.
Watch My Previous HELOC Videos HERE: https://www.youtube.com/playlist?list=PLGCLGgSsNi6IiG39DDZnRB5Oo8DVoE0Yn
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Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred either directly or indirectly, using any of the information contained in this document. Also, Kris Krohn, this video, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. Homes and information about homes in this video (if any) are historical examples, where past performance does not predict future results. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.
NO INVESTMENT, FINANCIAL, LEGAL OR TAX ADVICE
The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Kris Krohn is not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicle.
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🟢Ready to Buy a House & You Don't Know Where to Start? Start Here! My FREE Download: https://bit.ly/3QWqfbq
🚨Do Not Buy a House without My First Time Homebuyer Masterclass with Digital Confidently Closed Handbook, Because After Closing is Too Late: https://bit.ly/47s4pT7 🚨
Ready to Buy Your First House? Watch these videos & Visit my playlists!
⭐8 Steps to Buy a House - https://youtu.be/fgUkwjA12V4
⭐ Where Should You Start? - https://youtu.be/0IOl5pAC_Gk
⭐ Most Important People in the Home Buying Process - https://youtu.be/5N70wMXgmgU
⭐ What is Included in your Mortgage Payment: https://youtu.be/P_JC8b6wKMU
⭐New Construction - https://youtu.be/QoCctKxuJxA
⭐FHA or Conventional - https://youtu.be/gXfEGPd3k4Y
⭐Buying a House with Student Loans - https://youtu.be/yunqWv1xIUU
⭐7 Day Perfect Credit Plan - https://youtu.be/4QU7g6IS7BQ
⭐Can you afford a house: DTI Ratio - https://youtu.be/S3glBuf2fRw
⭐What happens at closing -https://youtu.be/heCUdtcGMls
⭐NACA Home Buying Program -https://youtu.be/HLLluwaAfrQ
⭐Should I Rent or Buy? - https://youtu.be/NPgOyRZKfmU
⭐ Get Your Real Estate License Online- https://youtu.be/kHen6QrArwg
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Did you know you could tap into the equity of your home to access cash for large expenses or other things life throws your way? In this episode of The Red Desk, we explore the ins and outs, as well as the upsides and downsides, of a home equity loan.
0:00: Intro
0:39: Why You Might Need A Home Equity Loan
1:24: How It Works
2:52: The Upsides Of Home Equity Loans
4:01: The Downsides of Home Equity Loans
4:57 : Other Financing Options
Discover how to turn your home equity into monthly cashflow! Whether you have a nearly paid-off home, own single-family rentals, or simply have untapped home equity, this video is for you! We'll cover what home equity is, how to access it, and how to incorporate it into your commercial real estate investing. Learn more here: https://propadvsr.com/home-equity-to-monthly-cash-flow
Questions or Comments? Text PETER to 833-942-4516
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For more great videos like this, go to @CommercialPropertyAdvisors
0:00 Unlocking Home Equity for Cash Flow
1:15 Word of Wisdom on Using Your Home Equity
2:57 What is Home Equity?
4:26 How to Tap into Your Home Home Equity
5:21 Home Equity Line of Credit (HELOC)
6:25 Cash-Out Refinance
7:35 Sell
7:54 1031 Exchange
9:07 Once You Have Your Equity, What's Next?
9:17 Get Educated
9:59 Master One Property Type
10:46 Learn the Basics and Analyze Deals
12:30 Start Making Offers
13:26 Investing Equity in a 12-Unit Multifamily for Cash Flow: HELOC Method
17:25 Benefits of Using Your Equity to Buy Commercial Property
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🧠 The Dr. John Delony Show ⮕ https://ter.li/s5yazz
💰 George Kamel ⮕ https://ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ https://ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ https://ter.li/v8n4u8
📈EntrLeadership ⮕ https://ter.li/g7s9g0
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Questions for Humans: Couples https://store.ramseysolutions.com/personal-growth/conversation-cards/questions-for-humans-couples/?srsltid=AfmBOore7pM0L47JFSh7OSi3Cdnvxue8GRIcldeUp3V8--1WaVuPrETmpfo&utm_content=YT3-bsTwF3W0jeyJenG6oNzdmHnQIB4G7Cwa0c1-8j3S2ai2J_GbucWXrlG6asDVn1ueu-qARHIWlDtM5McH4QGuo8my9YWQ2umsZxha9bTWpA&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
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Baby Steps Millionaires: https://store.ramseysolutions.com/money/books/baby-steps-millionaires/?srsltid=AfmBOooQ-z7E0NCmlTreR5hZRmnlyqw65if-f-FefSFRdQMKHeH2-0zn5ME&utm_content=YT3-k_9UjCya_igJcwUqvnKrz18DqX4JYUrSGSZqELgGGj3btkkH5Wfta0rcYhd8dpQSDYGmWXb6d_igYmsH9NMy8HnW6rn3vmioW03rlpMW_g&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Building a Non-Anxious Life https://store.ramseysolutions.com/personal-growth/books/building-a-non-anxious-life-by-dr-john-delony/?srsltid=AfmBOoqBOPJsdZytDjwoEUrj9hYI0YYTFacFpAGKhiFB4f3CQ_HagdyKDXg&utm_content=YT3-Mazzp2MBOZrHQ1zDS_EwoI7Jmd4kuFeJAjp1uV_mfHxL5k9ZfKQGm5xWuUjryhG2PntDrCYZ9adtGtnMpixSU-TCH8U26lHJSMXR5iMUQg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Breaking Free From Broke https://store.ramseysolutions.com/money/books/breaking-free-from-broke-by-george-kamel/?srsltid=AfmBOoqg2tmzTJm-QJLkfwvZyyO4Ur5CoJsDMo1xb_VXoKMIyhgA2nA0NSs&utm_content=YT3-ezsswV9tyVa8rWh_0AQ2dDgHPSnGJ88GFyKnAzXkuIiXbw6kHEoqcpKndrO03ygdQ3_fsS_tAsKrZ0bcibDgAHXMx-DPRRBDj3QUiGo9-A&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
New! Get Clear Career Assessment: Find the Work You’re Wired to Do https://store.ramseysolutions.com/business-and-career/books/get-clear-career-assessment-by-ken-coleman/?srsltid=AfmBOoq-R1r9adZL5ANIxetJ5xuLfsDkSw0CVLyrmOL0d9gNUF2CEoWogLE&utm_content=YT3-khaXlZkd7NOrpVpq8EUY5f_HNrWBxWdek5FqKGwv7sil68ynkwfD0nuy-NlQSu9e1RN6lrZRxQQd7mJ_r4E5SUmG_lLemxqj1VGKrZkpow&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Know Yourself, Know Your Money https://store.ramseysolutions.com/money/books/know-yourself-know-your-money-by-rachel-cruze/?srsltid=AfmBOoqgDh-mskdwDrspH-8GTQXkiaKs7-1pETlHnKjDDdTQUsBE5l8EwEA&utm_content=YT3-HBGCZgJLk2WLUDwSaC0UL-CR043IdPoZ73a5g4grlZCUl8LZAD4DP1FRkBeBbIPmWR4RPG_vLcKOLcWtBUxrTSWZefdn0RsGLl0VRBActg&utm_term=UC7eBNeDW1GQf2NJQ6G6gAxw&utm_medium=product_shelf&utm_source=youtube
Do you have home equity you could be using? In this video, Suncorp Store Manager Amber Nijenhuis explains what home equity is and how you can work out the amount you have.
-----------------------------------
Want more great videos?
Check out Suncorp’s Home Buying Tips video playlist: https://bit.ly/2Gc2ip3
You can also find a comprehensive guide to Buying a Home on Suncorp’s Learn About blog: https://www.suncorp.com.au/learn-about/buying-a-home.html
-----------------------------------
Suncorp is one of Australia's largest financial services brands offering Home and Motor Insurance, Banking, Life Insurance, and Superannuation.
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Tim Graham, Reventon COO, talks about how to use the equity in your home to make buying an investment property a reality.
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It has been over 2 years since I started producing HELOC Content, but a lot has changed. In this video I share the ultimate HELOC Guide and explain simply what a Home Equity Line of Credit is, how to apply for a HELOC, what to use it for, what not to use it for, as well as whether or not you should be applying for a HELOC. I also share my 3 rules for how to use your HELOC safely and effectively in order to build wealth.
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A home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. Home equity loans are often used to finance major expenses such as home repairs, medical bills, or college education. A home equity loan creates a lien against the borrower's house and reduces actual home equity.
Most home equity loans require good to excellent credit history, reasonable loan-to-value and combined loan-to-value ratios. Home equity loans come in two types: closed end (traditionally just called a home-equity loan) and open end (aka a home-equity line of credit). Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage. Home equity loans and lines of credit are usually, but not always, for a shorter term than first mortgages. Home equity loan can be used as a person's main mortgage in place of a traditional mortgage. However, one can not purchase a home using a home equity loan, one can only use a home equity loan to refinance. In the United States, in most cases it is possible to deduct home equity loan interest on one's personal income taxes.
Detectives also claim Majewski took out more than $350,000 in business loans without board approval and comingled funds received from a home equity line of credit with those of the nonprofit.
The US government-sponsored mortgage loan corporation says $17 trillion of home equity is about to be handed over to the children of those born before 1964 ... their home equity to fund their retirement.
Maxi’s Noodle 3. 68 Mott St. Wonton soup with duck-egg noodles. Photo. Jutharat Pinyodoonyachet ... Reviews were glowing and by the end of the year, she’d opened an actual shop in Flushing, taking out a home-equity loan to secure the financing ... Email ... ....
The first is a home equity line of credit (HELOC) or home equity loan, which allows homeowners to borrow against their home, which can help them get a lower interest rate than they would with unsecured loans.
“B.C.’s got the strongest level of equity-to-loan ratios,” he told BIV on Dec ... own more of their homes ... rental rules and the new home-flipping tax that went into effect Jan.
“If your credit score has dipped since your initial home loan is granted, there is a chance that your new bond may be granted on even less favourable terms.”Reduce the equity in your home.