: This is a "second mortgage" that provides a lump sum of cash at a fixed interest rate.
Lenders typically allow you to borrow up to , minus your current mortgage balance. This is known as your "usable equity".
There are three primary ways to tap into your home's equity to buy another property:
: Homeowners who want to maintain a single monthly payment and potentially secure a lower interest rate on their entire debt. Calculating Your Buying Power
: Flexible funding for ongoing expenses or multiple smaller property investments.
: This replaces your current mortgage with a new, larger loan, and you receive the difference in cash.
