Brisbane’s Trusted Home Loan Brokers

Looking at Refinancing or Home Equity Loans?

Paid off some of your mortgage?

Why not use the equity you’ve built up to invest, renovate, or buy another property?

There are a number of Home Equity loans available through banks and lending institutions. But if you go through us, we can compare what’s out there for you. The whole aim is to source the loan that’s right for your individual situation … not just right for the bank!

By seeking the assistance of independent home loan brokers, you can rest assured the mortgage you acquire is the best option available in accordance with your needs.

Firstly, what is home equity?

Most people’s biggest asset is the family home. As the years pass, your mortgage is paid off and the value of your home has increased to several times what you originally paid for it. This increased value, minus your loan balance, is called your home equity. Banks are able to lend you money using your home equity as collateral, or security, for the loan so that you can access that value to do other things.

Whether you wish to renovate in order to accommodate a growing a family or want to secure your financial future via an investment property, a home equity loan is a viable way to make it happen.

You might decide to:

  Renovate

  Fund wealth building ventures

  Purchase an investment property

  Invest in the share market.

The idea behind a home equity loan is that you are able to redraw your own money out of your equity to use for a worthwhile purpose.

Call us now, provide the best number for us to contact you on, and we’ll work out whether a Home Equity Loan is right for you.

How Does a Home Equity Loan Work?

Here at Prohomeloan Solutions, we can arrange a valuation of your home, calculate what you owe, then determine how much home equity you have. You can then borrow a certain percentage of this equity, which is set up as a Home Equity Loan (Line of Credit).

It may sound complicated, but it’s actually a relatively simple process – especially when you are backed by an experienced broker. If you are considering taking out this type of home loan, talk to George. He will advise you as to which is the best loan for you, ensuring you acquire a loan that meets your personal situation.

Home Equity Loan options

  Interest only

  Principal and interest

  Line of credit, i.e. you may not choose to spend the money straight away, it’s just available for you when you are ready. You make no repayments on a line of credit, until you draw it and only make payments on the amount you use.

How to reduce your monthly repayments

Are you struggling to meet your monthly repayments? Are you finding your repayments aren’t leaving enough cash flow for day-to-day expenses?

As experienced mortgage brokers, we can review your situation and help you refinance to reduce your monthly repayments. It could be as simple as rolling your private school fees, or other loans, into your home loan. Speak to us today – there are many options available.

Want to reduce your loan balance?

Interest Only Repayments on a Home Equity Loan only cover the interest being charged. If you never make any extra repayments, you’ll be paying off the loan for the full term. And banks will only allow a certain period of interest only payments before you will need to swap banks.

Making extra payments – even small ones – can make a huge difference to the size of your monthly repayments … and your loan balance!

Use the money available in your Home Equity Loan

PLUS – as your loan balance reduces, your equity increases! Which means, you can redraw the money available in your Home Equity Loan for other projects.

Need a business loan to purchase property or help your business grow?

Using the equity in your home, we can arrange business loans at home loan interest rates.

If you are tired of researching home loans yourself or simply don’t know where to start, talk to the experts at Prohomeloan Solutions. Backed by many years of industry experience, we can help to ensure you are paired with the right loan.

We are open Monday through to Friday, 9am – 5pm and can also arrange out-of-hours appointments for your convenience. If you have any questions regarding our service – or loans in general – don’t hesitate to get in touch with us today. We’re always happy to help!

For more information, contact us today on 1300 637 102.

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