Tapping the equity in you home allows you to pay for almost anything for
which you could use the extra funds, such as:
- home improvement projects
- college tuition payments
- vacation expenses
- investment opportunities
- a financial cushion, in case of emergencies
You can tap your home equity by refinancing your first mortgage loan and
pulling cash out of the property, by obtaining a second mortgage (usually
called an equity loan) or by obtaining a revolving line of credit which can
be used over and over again as you pay down the balance over time - an
equity line. Crestar Mortgage Corporation offers equity lines of credit in
conjunction with your first mortgage or as stand alone products which you
can get without having to change the terms of your current first mortgage.
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