The benefits of accessing a home equity loan through Diverse Funding Solutions
- Hassle-free application process
- Market-leading interest rates on our variable and fixed rate loans
- No annual fee
- No credit check
- Excellent customer service
- Fast & easy approvals
The quick and simple way to access equity in your home
Home equity loans are undisputedly one of the best ways to access your home’s equity.
With house prices booming all across the country, chances are that your home value has skyrocketed.
What an ideal time to access some equity out of your property value while interest rates and your borrowing power have never been better!
How does a short term home equity loan work?
A Home Equity Loan effectively releases equity that you have tied up in your property value.
How much equity you have in your home can be easily calculated by looking at the difference between how much your home is worth (using a fair market value) and deducting any existing mortgage balance or home loans secured by your property.
The more equity you have in your property, the more loan funds you can access!
What can I use a home equity loan for?
Whatever your financial situation calls for, a home equity loan is the flexible answer.
Business cash flow
If you need to buy stock or materials, pay outstanding invoices, pay staff etc
A home equity loan can be utilised for any business purpose, hassle free!
If you’ve got existing debt, a debt consolidation using a home equity loan might be the answer.
Unlike your home loan, where you’d be stuck paying interest on your debt for potentially decades to come, consolidating debt by unlocking a shorter-term home equity loan lets you access a more attractive interest rate and manageable monthly payment.
The interest rate that applies to home equity loans is significantly lower than most other personal loans, especially credit cards.
If you are suffocating from credit card bills, a home equity loan can give you the breathing space you need.
Home renovations are commonly funded through home equity loans.
The upside here is that as you improve your home, its value is likely to only increase further; so you’re essentially using equity to build further equity.
If you’ve unexpectedly come across some large one-off expenses, a home equity loan can help cover the cost.
Whether it’s medical expenses, an ATO bill, or you simply want more business cash flow, the flexibility of home equity loans means you can access funds for almost all purposes.
Investing using a home equity loan is possible, and you can even use the funds as a deposit towards an investment property or your next business workshop, office or franchise!
Your loan term
Home equity loans were previously offered over longer periods of time, anywhere up to 15 years.
We understand that for many homeowners, to borrow money for that long simply doesn’t suit their financial circumstances, which is why accessing a home equity loan through a private lender is all the more attractive — we offer home equity loans between 2 – and 36 months.
Our flexible loan terms are just another reason Australians come to us over other lenders in the market.
Your loan amount
The maximum loan amount you can access is 80% (or more) of the equity in your home.
If you own your home outright, you can access 80% (or more) of the total value of your home!
Personal loans, on the other hand, are usually limited to $50,000, which may make a personal loan insufficient for funding your personal objectives.