Equity Withdrawals By Transaction Type ~ September 2022

Equity lines of credit are a critical financial planning tool.
When rates go up, and you want to access the equity in your house you have 2 choices.
1. You can sell, or, 2. You need to borrow
If you refinance to borrow you are subject to rates that may be higher than what you have today and that may not make sense.
The equity line of credit provides a flexible way to use the house as your own personal bank and limits the rate reset while providing flexible repayment terms you create for yourself.
It appears homeowners are getting that message and using the equity line of credit as a key financial tool to access the wealth in their house.
#borrowsmart #repaysmart #yourlenderandfriend