Need to remodel your home but you don’t have any cash? Need to send your eldest to college? For large, unavoidable expenses you can use the equity in your home to pay for them.
Equity is the amount of money you have left between what your home is worth and what you owe on your current home loan. When you apply for a home equity loan through Australian Lending Centre, we provide you with a set amount of funding, a home equity loan, that you’ll pay back over time — just like your home loan.
When you are ready to apply for a home equity loan, our specialist loan consultants can steer you in the right direction. We can find the best home equity loan for your needs. Get in touch with the Australian Lending centre by calling or completing our online enquiry form.
When you access the equity in your home, you’re able to locate an easy source of cash. The interest rate on these types of loans is higher than your original home loan, but still lower than what you’d get applying for a credit card or personal loan. In fact, many Australians use home equity loans to pay off their credit cards and consolidate debts. Also called a home equity release, it is a smart way to access cash without piling debt on to your credit card at an unsustainable interest rate.
Essentially you can use home equity loans for anything you like. Most consumers use their home equity loans for:
Transforming multiple credit card payments into a single payment and interest rate.
Adding square footage, remodelling rooms or renovating the entire structure.
Use your home’s equity to pay for your child’s post-secondary education, graduate work or internship.
Purchase a new boat or investment property using your home’s equity.