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Home Equity Loans in Austin

Have you owned your home for at least a few years? You may have built up some equity in your property. Subsequently, you can tap into this equity through a home equity loan. A home equity loan provides individuals with many benefits. Undoubtedly, you will want to take advantage of these benefits by applying for a new home equity loan.

Benefits of Home Equity Loans

A Lower Interest Rate

It unsurprising to learn that lowering your interest rate is one of the most common reasons homeowners refinance. Often, a homebuyer can lock in a lower rate and enjoy lower payments through a refinance. In addition, you may benefit from having more of your costs applied to principal rather than interest. Consequently, this may mean that equity will accrue faster.

Adjusted Loan Terms

You also may adjust your loan terms when you refinance. For example, you may have your current loan set up with a 30-year term. However, you may want to pay off the mortgage more quickly. By refinancing, you may adjust your term down to a 15- or 20-year period.

Access to Your Cash Equity

A final and essential benefit of refinancing with a home equity loan is gaining access to your cash equity. For example, the cash can be used to renovate your home, potentially increasing its value. Also, you could use the home equity to pay off debts, use it for student loans, fund additional investments, and more. Contact Joel and his team to learn more today.

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Learn More About Austin Home Equity Loans

Applying for a home equity loan makes sense for many homeowners, but there are better moves for some homeowners. Take time to explore the options with Austin lender Joel Richardson and consider how you could put these benefits to use for your gain. If you discover that now is a great time to proceed with the application for a home equity loan, Joel can help you get started in the process too. Call (512) 203-8244 or fill out our contact form to get in touch today!

© Joel Richardson. All Rights Reserved. | This website is operated by Joel Richardson, who is currently an employee of VeraBank, N.A. (“VeraBank”) The views expressed on this website are not necessarily those of VeraBank. This website also has its own privacy policy, which may differ from VeraBank’s privacy policy. VeraBank makes no express or implied warranty regarding the information or data on this website, and hereby expressly disclaims all legal liability and responsibility to persons or entities who use or access this site and its content, based on their reliance on any information or data that is available through this website. Joel Richardson has sole responsibility for the information and data on this website. Deposit and loan products described on this website are offered through VeraBank, Member FDIC. To visit VeraBank’s website, here.