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Confused about using your home for a loan? Granada Hills Realtor explains it simply!

Monday, April 15, 2024   /   by Vic Markarian

Confused about using your home for a loan? Granada Hills Realtor explains it simply!

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Buying a house is a big deal, and figuring out money stuff can be confusing. This article is here to help, especially for people in Granada Hills, California.
Vic Markarian, a local real estate expert, wants to make things easier for you. He says understanding the difference between equity lines and equity loans is important. These are basically ways to use the value of your house to get money.
Equity line: Imagine a credit card for your house. You can borrow money as you need it, up to a certain amount. It's flexible, but the interest rate can change.

Equity loan: This is like a regular loan. You get a lump sum of money upfront, and you pay it back with a fixed monthly payment and interest rate.

Which one is right for you? It depends!
Equity line: Good if you need money over time, like for repairs or improvements.

Equity loan: Good if you know exactly how much money you need, like for a big bill or a new home.

Vic helps people make smart financial decisions about their houses.  He wants to empower you to reach your real estate goals!
Thinking of buying a new home or investing in property? Understanding equity lines can be a big help.
Vic goes above and beyond just selling houses.  He wants you to understand your finances so you can make the best choices. This makes the whole real estate market in Granada Hills stronger!
Need help figuring out your options? Contact Vic Markarian!  He's a great resource for homeowners and investors.

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Markarian Realty Group
3237 N. Verdugo Rd.
Glendale,, CA 91208
DRE# CalBRE# 01059771

Based on information from California Regional Multiple Listing Service, Inc. as of May 22, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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