As a homeowner, you may have a valuable resource in the form of available home equity. Home equity value is determined by subtracting the amount you owe on your mortgage from the appraised value of your home. 

Borrowing against your home should not be taken lightly as you are accessing equity that has been hard won over years of timely payments. However, in the right situations and for the right reasons, Home Equity loans allow you to leverage your home’s value for big ticket items you might not otherwise obtain.