The equity in your home is the difference between the amount on your first mortgage and what your home is really worth. The biggest advantage of home ownership is the financial power you gain from the equity in your home. The interest on these types of loans may even be tax deductible. The loan officers at New Century can show you how to take advantages of this ideal money source. A home equity loan can be used to pay the tuition for your children’s education, finance home improvements, allow you to take advantage of investment opportunities, debt consolidation or even help you assume an existing mortgage on a new home. Regardless of how you choose to use the money, a home equity loan can be an often overlooked source of money for whatever your needs are.