Previously, in order to access the home equity in your property, you would need to Refinance or take out a home equity loan or line of credit. This would come with added debt and a monthly payment.

Did you know you can access up to $500,000 in a properties equity without taking on new debt? You don’t need to take out a loan or face another monthly payment, making this an attractive option for cash-strapped homeowners and real estate investors in need.

The homeowner makes no monthly payments and needs no income requirements. Additionally, the property may be owner or non-owner occupied. The downside is this product is available in only 50% of the country. But for the other 50% of the country, it is an attractive option to tap equity in a home without taking on debt.

Requirements

Your property is an SFR-Condo, 2–4-unit dwelling located in an eligible state.

You have a credit score above 500.

You have a minimum of 35% equity in your home

The investment amount you are looking for is 25% OR LESS of your home value AND under the maximum investment amount of $500,000.

Homeowners who take advantage of this will be required to uphold the terms of the investment, which includes continuing to pay their mortgage, maintaining homeowners’ insurance, staying current on property taxes, and keeping the house in good shape.

Benefits of Using This Strategy

This offers a unique way of accessing your home equity, the benefits of which include:

· No Loan Payment and No Interest rate

· In addition, since you can use the funds to pay off existing debts, you can also eliminate or significantly reduce your other monthly payments.

· You can use this money to purchase another rental property that will provide you with cash-flow and escalate in equity over the years.