Home Equity Loan

Consolidate and Reduce Debt with JN Home Equity Loans

If you already own a home, chances are, you are now looking to realise your other dreams or do the next big item on your family’s things-to-do list. Having worked so hard to acquire such a major asset, it makes sense that you allow the equity vested in your home to do the work for you!

Home equity loans are a good means of debt consolidation because you can secure the loan at a lower interest rate than the rate on your other debts. Then, use the funds to refinance or pay off your secured and unsecured debts such as car loans, tuition fees, or credit card bills. You can also use home equity loans to foot expensive medical costs.

A JN Home Equity Loan is the difference between the current market value of the property and the unpaid balance on the mortgage or other debts registered to the property.

With a JN Home Equity Loan, you can borrow up to 70% of the property value with 10 years to repay.

Plus, because it is disbursed as a lump-sum, it offers a high level of flexibility in how you use the money.

JN Home Equity loans are available at very competitive interest rates and applications are processed quickly, most being approved within 48-hours of receipt of complete documentation.

Whether your personal goals are home ownership or improvement, education, investing in a business, purchasing a car, or just making ends meet, many of us will need financing options at some point in time.

The beauty of a home equity loan is that you can use your residence as collateral to borrow money for whatever purpose you desire and enjoy a comfortable period of time to repay.

“The bottom line is; because a JN Home Equity Loan has a low interest rate, you can use it to repay other loans which have higher interest rates, and as a result, decrease your total debt. Or, if you are not interested in debt consolidation, you could use the home equity loan to acquire other assets,” Ms. Kow suggested.

She noted that the Society places much emphasis on providing added benefits for its Members and customers.

JN Home Equity Loans are available throughout JNBS’ 24 branches across the island.