Empowering Homeowners Through PropTech

Sep 12, 2018

Homeownership and the act of becoming a homeowner has long been seen as a right of passage.  A mortgage is a huge commitment since the majority of people making mortgage payments couldn’t even dream of paying off such a large loan at the drop of a hat.  That gigantic debt and the monthly payments that come with it can leave homeowners feeling trapped, but it doesn’t have to be that way. What if homeowners were released of this burden, by way of tapping into their equity?

A Home IS an Investment

A big part of the reason most people want to buy a home rather than rent one is that you’re not throwing your money away by simply handing it to a landlord when you could be investing it into a home of your own instead. While more people are choosing to rent single family homes these days and mortgages aren’t quite as inevitable for the average adult as they once were, it doesn’t devalue the fact that a home is an investment.

The issue with thinking of a home as an investment, though, is that sometimes that investment can be very difficult to access without selling the home. Selling a home isn’t easy by any stretch, either, and it generally requires that you move. Moving is almost a more daunting prospect that trying to sell your house. As you can see, the chain of events that comes with trying to access your investment can be trying at best.

Tapping Home Equity

When moving isn’t in the cards but you need access to the investment that you’ve made into your home, you may look at traditional equity tapping methods like HELOC loans. These loans are a great way to gain access to your home equity, especially if you use the line of credit they offer within reason. The problem with them is that you’ve got to have a good FICO score to qualify for a HELOC loan. Lenders that offer these loans don’t care that you’ve got a hefty chunk of home equity built up and you only need a part of it; they insist on a fairly clean credit report.

Find Freedom in Your Home Equity, FICO Score Aside

Easy Knock’s Sell & Stay program offers you the best of both worlds: the freedom to access your home equity without leaving your home in a FICO free space. With Sell & Stay, we look at the asset rather than your credit history. You can tap your home equity, even if your credit report has a few dings on it, or even if it’s an absolute mess.

It’s your money and we believe that you should have access to it if you need it, or even if you just want it. We as a society tend to think of people tapping home equity as a last-ditch effort, but that doesn’t need to be the case. Maybe you just want to travel, and you don’t want to wait until you retire to enjoy the world at large. Maybe you want to plan your dream wedding. Maybe you want to go back to school without incurring crushing student debt. Whatever you want your home equity for, you can get it with Sell & Stay.