These are the fastest financing solutions available
These are the fastest financing solutions available. When you want to capitalize on an opportunity, speed of financing is critical. There’s no one-size-fits-all financing solution. You have options when it comes to getting the money you need as quickly as possible. At Budget Build Buy we teach you how to use other peoples money or OPM to build generational wealth. Owning a home is a major milestone. However, leaving a lasting legacy is priceless.
Home Equity Loan
The Home Equity Loan is ideal for large-scale projects or major expenses. Because the loan is secured by your home, the interest rate is competitive. The amount you’re qualified for depends on the amount of equity you currently have in your home. Many fix and flip projects are financed with a Home Equity Loan. Expect to receive financing in 30-45 days.
Home Equity Line of Credit (HELOC)
Home Equity Line of Credit or (HELOC). Like a Home Equity Loan, a HELOC uses the equity you have in your home to secure a defined amount of money. Unlike a Home Equity Loan, you don’t receive a lump sum but can draw from that amount at any time. Consider a HELOC a low interest credit card with a really big available credit line. Furthermore, qualifying for a HELOC is faster. Expect to have access to funds in 15-20 days.
Personal loan
A Personal Loan is perfect for expenses and emergencies that you don’t want to use your credit cards for. Personal loans are unsecured, so no collateral is required. Terms are flexible and you can borrow anywhere from $300-$25,000. We like Personal Loans when other financing options are not available and you need access to capital in 24-48 hours. Personal loans are also great for individuals building credit or non homeowners.
Personal line of credit
A Personal Line of Credit is a great quick safety net, Lines of Credit provide a defined amount of money that you can use at any time. Many people use Lines of Credit as an overdraft option. A Personal Line of Credit is usually available immediately. These are the fastest financing solutions available rates and approval is based on the following factors; equity, credit score and income.
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