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What is Free and Clear?

FL Hard Money Investor | Florida No Credit Home Mortgage

How many of us dream of owning our home “free and clear” in our lifetime? What does that term mean? Free and clear simply refers to the home having no loans or other encumbrances on it at that time. More important to the homeowner, it also means that the home’s value is all equity, something that may be useful to the owner if they wish to renovate or expand the home.

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Why You May Not Want to Pay Cash and Own Your Home Free & Clear!

Florida No Credit Home Mortgage | Gainesville Hard Money Investor

It is a dream of many homeowners to pay off their mortgage and own their home without any loan debt. It’s another thing to have the money to pay cash for your home and own it free and clear from day one. Very few people may have the resources to pay cash for a home, but even if you do it may not be in your best interest to do so. Let’s explore why a cash purchase may not be your best option.

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My Home is Paid Off, Can I Get an Equity Loan?

Sarasota Home Equity Loan | Florida Money Loans

Have you ever dreamed of paying off your home? No mortgage, no home debt, and a lot more money in your wallet every month. However, you may find you need some money, perhaps for a home improvement project or other need. Can you get money back out of the equity in your home, the answer is yes.

A home equity loan is defined as borrowing against the accumulated equity in a home, with equity being the amount of the home’s value not secured by any loan. Once you have paid off a mortgage you have 100 percent equity, something dreamed about by many people. But, there is a bit more to borrowing equity than simply signing loan papers for it.

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*We do not issue approvals. We are a marketing and lead portal. You will be contacted directly by our private investors. They will call you directly to determine the value and equity in your home and to help you throughout the approval process. Each inquiry is on a case by case basis. Thank you.

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