: Homeowners who want to maintain a single monthly payment and potentially secure a lower interest rate on their entire debt. Calculating Your Buying Power
: This replaces your current mortgage with a new, larger loan, and you receive the difference in cash. buying home with equity
: This is a "second mortgage" that provides a lump sum of cash at a fixed interest rate. : Homeowners who want to maintain a single
Home Equity: What It Is, How It Works, and How You Can Use It How It Works
There are three primary ways to tap into your home's equity to buy another property:
