Question

How do I access the equity in my home?

Answer 1

Home equity can be used for various reasons. With a home equity loan, one gets access to a huge lump sum capital resource, for which one has to start paying immediately. The interest rates are fixed throughout the term of the loan. Bulk repayments can be made only to reduce the principal amount but the interest remains the same. Home equity loans can be used for home improvements, educational purposes, meeting financial obligations, other long-term investments, business expenses, and personal expenses.

Also see:

• What Are Equity Shares?
• Difference Between Venture Capital and Private Equity