HOME
EQUITY MORTGAGE (HEM)
The Home Equity Mortgage
enables homeowners with good title grow wealth by unlocking the equity in their
homes. Individuals wishing to take advantage of investment in assets can
convert a significant proportion of the value of their homes to liquidity to be
able to finance the acquisition of the assets without giving up ownership of
the homes/assets.
·
Benefits:
o
Immediate acquisition, ownership and possession of desired
properties, assets, etc. (You can
purchase additional homes, stocks and shares, household equipment, automobiles,
etc.)
o
Convenient cash flow, installment payments.
o
No initial down payment.
o
Long Tenor; Maximum of 10 years for houses.
o
Enhanced self-esteem.
o
Easy access to liquidity, up to 65% of equity in property.
·
Who can apply:
o
Prospective/existing customers of Union Homes.
o
Customers who are employees of companies can borrow up to 10years
of annual income.
o
Employees of companies with verifiable evidence of a regular
source of income duly confirmed by the employer.
o
Customers who are self-employed can borrow up to 5years of their
incomes.
o
Self-employed with verifiable evidence of income.