With trillions in untapped equity sitting in American homes, the opportunity is massive if you can help borrowers navigate it.
American homeowners are sitting on record levels of home equity. After years of rising home values, the average homeowner with a mortgage has over $300,000 in equity, much of it untapped. For banks and credit unions, this represents one of the largest lending opportunities in a generation.
The most underused tool in home equity marketing, and how to make it work.
Ask homeowners if they know how much equity they have, and most will give you a vague answer. "Maybe $100,000?" "I think our house has gone up a lot." "I'm not really sure."
The most common home equity question is also the biggest conversion killer.
"Should I get a HELOC or a home equity loan?"
Your call center hears it constantly. Your loan officers field it in every branch conversation. And on your website, where there's no one to ask, borrowers face this question alone, usually by staring at two separate rate tables and trying to figure out the difference.
Most don't figure it out. They leave.
The strongest home equity use case, and how to market it without the hard sell.
Debt consolidation is one of the most compelling reasons to borrow against home equity. The math is straightforward: replace 22% credit card rates with 8% home equity rates, save thousands in interest, simplify payments, and create a clear path to becoming debt-free.