How to access equity in your home without refinancing

I recently did a #moneymondayswithmelissa discussing HELOCs. A home equity line of credit allows a homeowner to access the equity in their home without having to refinance their entire loan. This is crucial if you have a mortgage with a low interest rate. I am not a lender or financial expert. I’m just sharing my experiences and believe that understanding finances is key in any economy.

Melissa Gomez, Principal Broker
ERA Top Service Realty
[phone]
@myrealtorlife on IG

[devellwilson]

Thank you for the knowledge Melissa G.

[warmijo]

So how would you use a 'credit card' to get another property? How do you get to that money, for say, a down payment? Thanks.

[stanmoney]

I got an equity loan on my home. I put it in an LLC. Since i got the equity loan in my name, can i pay it back with my LLC?

[FamousAchiever]

what leader let you get 90% please let us know the website and are they fair in apr?

[alexandera]

So I have a fha loan and paid 5% down when I purchased in 2021. I have a 30 year fixed loan at 2.875%. PMI is ridiculous it I didn’t have 100k to put down when I purchased. Similar homes are selling for $150k more than what I purchased for so that tells me it has appreciated a fair amount. You stated that you got rid of pmi after 6 months. Did you have to refinance? We don’t want to because we’d have to get current interest rates. How did you do it?

[athenavans]

What documents do I need to apply for home equity loan?

[sergioarena]

You are ranking first video result on youtube for the search term: cash out without refinance.

You would get a bigger audience if you just revealed the steps people can follow to remove PMI from their mortgages.

Once it's done, add the link to this new video right here on the description of this one.

Also, tapping into home equity wirhout refinancing using a Home Equity Line Of Credit is nothing new.

[J.B.]

It's hard to concentrate watching all of that...