Need Equity, But Not Another Payment

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Need Equity, But Not Another Required Monthly Mortgage Payment?

For some homeowners, accessing equity isn't the problem.

Adding another required monthly mortgage payment is.

A traditional HELOC or home equity loan can be an excellent solution—but those options generally come with monthly payments.

There are less-traditional alternatives worth understanding.

A Home Equity Investment (HEI) isn't a traditional interest-bearing loan. Instead, the homeowner receives money today in exchange for a financial interest tied to the home's future value according to the agreement.

A reverse second mortgage is a loan. Interest accrues on the amount borrowed, but a required monthly principal-and-interest payment may not be required for qualified homeowners who continue to meet the obligations of the loan.

Both may allow the existing first mortgage to remain in place.

But no required monthly mortgage payment does NOT mean no cost.

The cost simply develops differently.

That's why understanding how each option works over time is so important.

Today's cash is only half of the equation. Tomorrow's equity matters too.

For more information Click Here

Rob Clark | Home Loan Consultant
209-227-7745 | 559-476-9279
rbrtclark53@gmail.com
robertclarkloans.com

Advertising Disclosure: This information is for educational purposes only and is not a commitment to lend or offer of credit. Home Equity Investments are not traditional loans, and terms, costs and settlement provisions vary by agreement. Reverse second mortgages are loans and accrue interest. Programs, qualifications, property requirements, costs and availability are subject to change.