W.13 | What is an equity loan?

Who gets an equity loan and why should you find clients who may need it?

Tessa Arimado avatar
Written by Tessa Arimado
Updated over a week ago

After Refinancing, another easy home loan to apply for is Equity Loans.

Ano ba ang Equity Loan?

A home equity loan is a type of loan in which the borrowers use the equity of their home as a collateral. The loan amount is determined by the value of the property, and the value of the property is determined by an appraiser from the bank.

Home Equity Loans are often used to finance major expenses such as home repairs, medical bills, or college education. Puwede mo rin ito'ng gamitin kung gusto mo'ng magsimula ng negosyo, bumili ng sasakyan, o magpatayo ng isa pa'ng bahay.

A home equity loan can be a good way to convert the equity that you've built up in your home into cash. If you invest that cash into home renovations, that will even increase the value of your home.

As an affiliate, you should seek people looking for equity loans because a clean title always gets an approval. This means that if all documents are submitted, you are almost guaranteed a commission.

So if you're eager to get a commission... a client looking for an equity loan would be the best one to look for.

Good luck!πŸŽ‰

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