This Video Explains the Basics of Home Equity Borrowing
One big homeowner’s advantage is that, ideally, you have a net worth: that’s the difference between your mortgage and the assessed value of your home. Even the basics of fairness can be confusing, but this video explains it in simple terms.
The share is considered an advantage, because if you need money, you can take out a loan against your capital. The bank rate shows how borrowing works. They explain that if you know exactly how much you need to borrow, you probably want to get a home equity loan with a fixed rate. When you’re not sure how much you need to borrow, or you may need to borrow over time, they explain that a home equity line of credit may be the best option.
What You Need to Know About Equity | Bank rate