Your home equity can be a valuable financial resource, enabling you to access credit at rates that are generally lower than other forms of borrowing. How much money you can borrow from your home's equity depends upon how much equity you have in your home. Equity is the difference between how much you owe and how much your home is worth. Lenders use this number to calculate your loan-to-value ratio, or LTV, a factor used to determine whether you qualify for a loan. To get your LTV, simply divide your current loan balance by the current appraised value.
If you are looking to tap into your home equity, make sure you have a good reason. Building equity in your home has a lot of advantages as your improve your LTV ratio. The temptation to use your home as an ATM can be alluring but accessing this capital should be used to add value to your net worth, such as home renovations , debt consolidation and financing a second property.
To see if unlocking some of your home equity works for you, contact us for a free review of your current situation and future goals. We can advise how much equity you can leverage, and what your monthly payments would be. You may be surprised at the power of your home equity.
Gary is very knowledgeable at what he does. He went above and beyond to help me get a great rate, I will definitely recommend him to anyone without blinking an eye. You make me feel comfortable during the whole process. I just want to say a big thank you for everything you have done for me and my family
Gary is definitely a gem in not only the world of mortgages but overall as a person. He goes above and beyond to help and do whatever he can to help. Gary has helped us and went out of his way to make things work. He is kind, smart and has amazing customer service. We highly recommend him to everyone.
Gary is a fabulous and very knowledgeable. He went above and beyond to help us get a great rate!! We highly recommend him to everyone!! Thank you sooo much Gary for everything you have done for our family!!
I was very happy with the professionalism and courtesy provided to us by Gary and his team in navigating and procuring for us a great deal on a rather large, $215K, 2nd mortgage to help complete our extensive home renovations. Many Brokers will promise and not deliver but Gary and his extensive contacts and experience in this industry enabled us to quickly secure a 2nd mortgage and achieve our goals.
Gary's work ethic is fantastic. Not only is he organized, aware and thorough with his clients, he truly does approach each situation with 3 options. I appreciate the fact that he does not rely on one option ONLY to service his clients. This is particularly important at times when the market fluctuates or when things simply happen outside of our control. Gary, you have my highest recommendation.