Taking advantage of home equity for retirement purposes is growing in popularity, and for good reason. You’ve been paying your mortgage for years. Why not take advantage of the equity you’ve built up?
Borrowing against your home equity is among the cheapest ways to fund investments, including retirement. While funding can certainly be found through other means, they’re nowhere near as cost effective. The average Canadian credit card rates tend to hover around the 20% interest mark, while home equity lines of credit or home refinancing are much more in tune with the prime rate.
If you’re looking for a cost effective way to access funds, borrowing against your home equity is among the best options out there. With low interest rates and flexible options for repayment, any home owner could and should make use of their years of mortgage payments.
Contact the best in the business to learn more about the process and how home equity for retirement purposes is among the best options for millions. It’s one call that could change your future!
Making use of your home equity for retirement funding is an excellent
and cost effective means of reaching a goal. Take advantage of the investment
you’ve made in your home to reach the financial freedom you deserve in your
golden years. How does it work? It’s easier than you think!
Many people don’t realize that by paying a mortgage back over the years
creates a favourable asset with which to borrow against. Home equity is the
value of the home minus any outstanding amount owed on the mortgage. Each
payment increases the owner’s equity, as the amount owed on the principal is
Unlike credit cards and other forms of borrowing, a home equity loan is
incredibly cost effective. Since the risk to lenders is substantially lower
than a traditional loan, the interest rates are much closer to the prime rate.
Credit cards in Canada tend to hover around the twenty percent interest mark
while home equity loans are just a fraction of that.
If you’re considering options for investing in
your retirement, funding can be found in your home. Contact a reputable lender
today to learn more about the process and to start your retirement plan. It’s a
simple phone call that could lead to better future financial standings.