There's Another Way to Access Equity

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MYTH VS. REALITY: Accessing Home Equity Doesn't Always Mean Adding a Traditional Monthly Loan Payment

A HELOC or Home Equity Loan isn't the only possibility.

For qualified homeowners, a Shared Equity Agreement (SEA) — also known as a Home Equity Agreement (HEA) or Home Equity Investment (HEI) — may provide access to equity without a traditional interest rate or required monthly loan payment.

But there's an important distinction:

An SEA isn't free money — and it isn't a traditional loan.

In exchange for receiving funds today, the homeowner agrees to a future settlement based on the terms of the agreement and the property's value or appreciation.

These agreements can also contain provisions affecting future refinancing, additional liens or the sale of the property.

For eligible homeowners, a Reverse Second Mortgage may provide another way to access equity without replacing an existing first mortgage and without a required monthly principal-and-interest payment.

Very different products. Very different long-term considerations.

That's exactly why they should be compared and understood before making a decision.

For more information, Click Here

Robert “Rob” Clark
Home Loan Consultant | Firestone Financial Group
 209-227-7745
 559-476-9279
 rbrtclark53@gmail.com
 robertclarkloans.com

NMLS #357788 | Firestone Financial Group NMLS #301522 | CA DRE #01148307 | Equal Housing Lender

Advertising Disclosure: Shared equity agreements are not traditional loans and may involve sharing future property appreciation or value. Settlement requirements, costs and restrictions vary by provider and agreement. Reverse mortgage products are loans and have separate age, equity, occupancy, property and eligibility requirements. Borrowers remain responsible for applicable property obligations and must comply with program terms. Program availability and guidelines are subject to change. Information is for educational and advertising purposes only and is not financial, tax or legal advice.