Equity & Ways to Use It
Understand the equity in your home and how to put it to work.
Understand the equity in your home - and how to put it to work.
What equity is
Equity is the difference between your property's value and what you still owe. As you pay down your loan and your property value grows, your equity grows too.
Usable equity
Lenders typically let you access up to around 80% of your property's value, minus your current loan balance, without LMI. That portion is your 'usable' equity.
Ways to use it
Common uses include funding a renovation, buying an investment property, consolidating debt, or covering a deposit for your next home - without dipping into cash savings.
Do it wisely
Accessing equity increases your loan, so it pays to have a plan. We'll model the numbers and make sure it stacks up before you commit.
Not sure how this applies to your situation?
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