Use Your Home Equity...

If you're a homeowner, you might be able to finance important purchases using your home equity while enjoying possible tax advantages. At Seattle Premier Mortgage we'll walk you through the steps of using your home equity.

The equity you've built up in your home can work to your advantage if you'd like to borrow cash for major purchases. By using the equity in your home, you may qualify for a sizable amount of credit, available for use when and how you please.

In general, interest rates for home equity loans and lines of credit are usually lower than what you'd expect to pay on a credit card because the lender's risk is lower — your home serves as collateral. Some advantages:

• Offers tax advantages. In many instances, the interest paid on a home equity loan or line of credit may be tax deductible.   • Provides a new source of capital. A home equity loan is a way to finance college educations, make home improvements or buy a new car.   • Helps build home equity. Investing the money in home improvements may help to build equity while borrowing against it.

Calculator: Is debt consolidation right for me?

You have two basic types of home equity you can choose from:

• Home equity loans   • Home equity lines of credit

The type of home equity you choose will often depend on how you plan to use it. Our consultants at Seattle Premier Mortgage can help you identify the type of equity that is right for you. Please fill out our online application or contact us for more information.

At Seattle Premier Mortgage we strive to make the application process simple and quick. Normally, you would need the following information to get started:

• Type of home and property value information   • Current mortgage information   • Personal information (name, phone number, address, date of birth)   • Employment history   • Financial information (monthly income, current debts, assets)

The application process is often associated with various lender fees. These fees may include an appraisal fee, an application fee, annual fees, points costs and other closing costs. At Seattle Premier Mortgage we are dedicated to get you the best rate for your loan or line of credit, while keeping fees and closing costs down. Please fill out our short online application to receive more information.