According to CoreLogic’s most recent Homeowner Equity Insights report, U.S. homeowners have increased their equity by $1.3 trillion. The data also shows that in fourth quarter of 2023 62% of homeowners had an increase in equity of 9% year-over-year. The average amount of equity is around $298,000 per homeowner.

“Rising home prices continue to fuel growing home equity, which, at $298,000 per average borrower remained near historic highs at the end of 2023,” said Selma Hepp, chief economist for CoreLogic. “By extension, at 43%, the average loan-to-value ratio of U.S. borrowers has also remained in line with record lows, which suggests that the typical homeowner has notable home equity reserves that can be tapped if needed.”

Highlights of Equity Loans:

• Primary, second homes and investment properties
• Loan amounts begin at $150K up to $500,000
• Loans below 250K may not require Appraisal
• Full doc, personal and business bank statements
• Typically, Max CLTV 85% for primary, and Max CLTV 70% for second homes and investment properties
• Credit scores over 680

If you are considering a way to access Cash Out from RE, we offer Mortgage  Loan Solutions. Salaried or Self Employed Borrowers are Ok.

To learn more about a Cash Out Loan Solution please contact:  Dan Cassel  866-310-1112 or email Danc@dansrealestateloans.com