What is a Home Equity Loan?

Home equity is the current value of your home minus your mortgage balance. The equity in your home grows when you invest money in it-when you remodel for example-or when your property value increases. A Home Equity Loan or Line of Credit is a return on the financial investment, or equity, you've put into your home.

A Home Equity Loan or Line of Credit is a large loan at a low interest rate. Many homeowners use Home Equity loans for debt consolidation, house repairs, college tuition, or other large, substantial purchases. Home Equity Loans are usually tax deductible (consult your tax advisor).

Home Equity Loan, Home Equity Line of Credit. What's the difference?

A Home Equity Loan is a fixed-term loan: you are able to borrow a fixed amount of money for a fixed period of time and receive the total sum of money at the start of the loan.

A Home Equity Line of Credit is a revolving line of credit. Similar to a credit card, you are required to make a minimum payment every month based on the amount of money you borrow against your credit limit and you pay interest on the money you draw against your approved credit line.

For an estimate of home equity potential, please fill out our simple loan application.

Hunter Financial Group, LLC offers a wide range of purchase money loan products. We are able to tailor a custom program to fit each client's specific needs. We can help you get into a home with the best terms available. Please call us or use one of our online forms if you would like to see how you can get a new home with little or no money down and excellent repayment terms.  Click here to fill out a simple loan application.

Hunter Financial Group, LLC has a list of preferred partners that includes, “Realtors, Appraisers, Title Companies and more”.   We are also members of the Tempe and Scottsdale Chamber of Commerce in addition to the Arizona Better Business Bureau.