If you've been contemplating utilizing your home equity, this could be the right time to do so. Over the last decade, home values across the country have consistently risen, leaving many homeowners with substantial equity in their properties. However, this may not be the case for much longer. According to a recent survey by Zillow, economists and housing experts anticipate a 1.6% decline in housing prices in 2023. With this in mind, it may be wise to consider using your home equity now before your home's value decreases. So why should you use your home equity before home prices drop? Well, lenders usually allow borrowers to access 80% to 85% of their home equity, so the lower the value, the less you’d have access to. To determine your home equity, you need to subtract the outstanding mortgage balance from the current market value of your property. So, if now is the right time to unlock your home’s equity, should you look at getting a Home Equity Loan or a Home Equity Line of Credit? Well, a Home Equity Line of Credit, or HELOC is generally more beneficial to investors than a Home Equity Loan, so it’s the one we’d recommend 99 times out of a hundred. The primary difference between the two is that a home equity loan provides a lump sum of money upfront, while a HELOC works more like a credit card and provides you with a revolving line of credit. HELOCs provide more flexibility in accessing funds and enable investors to borrow only what they need when they need it. So now that we’ve identified HELOCs as the best option, what are the best HELOCs out there right now? Well, as of Summer of 2023, the five best HELOCs you should take a look at include those from Bank of America, Bethpage, Guaranteed Rate, PenFed, and PNC. Get Your FREE Debt Weapon Cheat Sheet Here: ► https://www.vipfinancialed.com/debt-weapon-cheat-sheet Timestamps: 0:00 - Tap Into Your Equity NOW 2:29 - HELOC vs Home Equity Loan 4:14 - Top 5 HELOCS Summer 2023 6:08 - How To Be Approved For a HELOC Get one-on-one coaching with Matthew Pillmore: ► http://www.FreeCoachingCalendar.com Get your FREE Cash Flow Cruncher budgeting spreadsheet here: ► http://www.cashflowcruncher.com It's way more than just a budgeting spreadsheet! Manage your finances completely and easily with the Cash Flow Cruncher, our gift to you just for being a viewer of the channel! Getting into Real Estate? Check out the Real Estate Investment Analysis Worksheet, a FREE resource that helps you calculate whether or not a property will be a money-making machine for you! ► http://www.investmentanalysisworksheet.com Want more actionable financial tips and tricks like this one? Check out our YouTube channel here https://www.youtube.com/vipfinancialed Make sure to check out our social channels for more insight and industry news! Facebook - https://www.facebook.com/VIPFinancialEducation/ Instagram - https://www.instagram.com/vipfinancialed/ Instagram (Lifestyle) - https://www.instagram.com/vipfinancialedlifestyle/ Twitter - https://twitter.com/VIPFinancialEd LinkedIn - https://www.linkedin.com/in/vipfinancialed/ BBB A+ Rating - https://www.bbb.org/denver/business-reviews/financial-services/vip-enterprises-llc-in-westminster-co-90024254/ Disclaimer and Waiver — VIP Enterprises, LLC, its owners, officers, directors, employees, subsidiaries, service providers, content providers and agents (referred to as "VIP Financial Education") are not financial or investment advisers and not licensed to sell securities or investments. None of the information provided is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, of any company, security, fund, or other offerings. The information should not be relied upon for purposes of transacting securities or other investments. Your use of the information contained herein is at your own risk and results always vary. The content is provided 'as is' and without warranties, either expressed or implied. VIP Enterprises does not promise or guarantee any income or particular result from your use of the information contained herein. Under no circumstances will VIP Enterprises be liable for any loss or damage caused by your reliance on the information contained herein. It is your responsibility to evaluate any information, opinion, advice or other content contained. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, or other content. Furthermore, from time to time VIP Enterprises may earn an affiliate commission when a viewer purchases a product, program, or service as a result of our content. #heloc #homeequityloan #homeequitylineofcredit