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A home equity loan is a loan obtained from an existing mortgage. It is evaluated based on the difference between the current property value of your home and the outstanding mortgage balance. To illustrate how a home equity loan works, we can take a scenario of John. He wants to acquire a home equity loan against his mortgage home with currently valued at $400, 000. If John has an outstanding home loan amount of $300, 000, he can therefore request a home equity loan against the $100, 000 collateral balance. https://homeloanwhiz.com.sg/home-equity-loan?utm_source=advertigo.net&utm_medium=backlink&utm_campaign=link_building&utm_content=home-equity-loan

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