Sunday, February 25 , 2018, 1:59 am | Fair 51º


Equity Choices Launches in Santa Barbara County

Equity Choices, an authorized originator for EquityKey Real Estate Participation Agreement, has announced it has started offering its services throughout Santa Barbara County.

Instead of taking existing equity out of a property or burdening homeowners with debt, the Real Estate Participation Agreement focuses on the property's potential future value. An agreement can be tailored to the homeowners needs and typically pays up to 17.25 percent of a property’s current appraised value in exchange for a share of future appreciation for as long as they own the home. If, for example, a home had an appraised value of $750,000, the homeowner would receive up to $127,500. The amount received is largely decided by the homeowner based on how much future appreciation they are willing to sell.

To qualify for a Real Estate Participation Agreement, the homeowner must satisfy certain requirements showing they are able to continue any payments and maintenance required on the home. The agreement is subject to other terms and conditions, underwriting and property approval, and qualified applications have been processed and funded in as little as four to six weeks.

Both primary residences and second homes are eligible, provided that they are single family structures, condos and townhomes that meet our minimum value requirements for your local area. At time of application, the maximum combined value of all mortgages may not exceed 80 percent of the value of your home.

Equity Choices consulting service is free, their representatives review the opportunity with the homeowner, provide them with a custom property profile report that outlines the program, answers frequently asked questions and provides an estimate of how much money the homeowner could be eligible for if they qualify.

Equity Choices mission is to provide customers with alternative solutions that help maximize the potential of their home investment. To find out more, click here or call 619.356.1166.

— Garrett Conn represents Equity Choices.

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