Buying Home With Equity Info

: This is a "second mortgage" that provides a lump sum of cash at a fixed interest rate.

: A revolving credit line, similar to a credit card, where you can borrow and repay funds as needed.

There are three primary ways to tap into your home's equity to buy another property: buying home with equity

Lenders typically allow you to borrow up to , minus your current mortgage balance. This is known as your "usable equity".

: This replaces your current mortgage with a new, larger loan, and you receive the difference in cash. : This is a "second mortgage" that provides

Home Equity: What It Is, How It Works, and How You Can Use It

Buying a home with equity involves leveraging the value of your current property to fund the purchase of another. Equity is the difference between your home's current market value and your outstanding mortgage balance. Methods to Access Equity This is known as your "usable equity"

: Buyers who need a specific, one-time amount for a down payment or an all-cash purchase.