Unlock Potential Without Losing Your Low interest Rate
As summer approaches, many homeowners like you are considering renovations to enhance their living spaces. Whether it’s a modern kitchen upgrade, a cozy patio, or backyard improvements, we understand the desire to make your home the best it can be.
We know that with the current lower interest rate on your mortgage, you might be hesitant to refinance your existing mortgage to complete the renovations. The good news is you don’t have to! There are ways to access the equity in your home to fund your renovation projects while keeping your existing low interest rate intact.
The Solution: A Home Equity Loan
Also known as a second mortgage, this loan provides you with a lump sum of money upfront, allowing you to complete the upgrades on your own schedule.
Benefits of Using Home Equity:
Lower Interest Rates: Second mortgages typically offer lower interest rates compared to credit cards and personal loans. With rates starting as low as 4.99% and ranging up to 6.19%, you can significantly reduce the cost of accessing your home’s equity.
Maintain Existing Rate and Term: One of the advantages of second mortgages is that you can keep your existing rate and term, allowing you to continue your regular mortgage payments without adding back to the amortization of the loan.
Increased Home Value: Investing in renovations can significantly boost the value of your home, providing a great return on investment.
Our team is here to help you explore these options and find the best solution tailored to your financial situation and renovation goals. We can provide personalized advice and guide you through the process to ensure you make the most of your home’s equity without compromising your current mortgage rate.
Ready to unlock your home's potential? Reach out today to discuss your options and start planning your dream renovation!
Alison & Erin