Use the equity in your home to buy another home. Accessing the equity in your loan is easy. With a simple mortgage refinance, you can be steps closer to buying a second home. This equity can then be used as a deposit on a second property, while your current home becomes a security on the new debt.
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Use Equity To Buy Second Home Use Equity To Buy Second Home – If you are looking for financial support to buy new home or your monthly payment of an existing loan is too high for you then our mortgage refinance service is the right place for you.
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The first is how you can access your equity; the second is what it can be used for. so depending on the amount of equity you have, you can buy a home outright or use the equity in your primary home.
Equity release. Homeowners aged 55 or over may want to consider equity release as a way to unlock their existing property wealth to pay for a second home. The most popular type of equity release scheme is known as a lifetime mortgage, whereby interest builds up on the lump sum you’ve borrowed over time.
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