Low interest rates and high unemployment has caused a huge spike in homeowners looking for equity lines of credit or a cash-out refinance. In late May, refinance activity was up 176% (including cash-out refinances) from the same week a year ago. The high number of applicants has created a bottleneck for lenders.
So, how can you…
in an evolving landscape with unprecedented demand?
Reach property owners with the most home equity
37.6% of homes have 100% equity value
41.6 million property owners have 40% or more of equity in their home
5.8 million homes have more than 500K of equity value
Engage property owners with high Geo-Credit scores who also have the most home equity
|
700+ |
→ |
$119k |
|
<600 |
→ |
$62k |
|
Traditional Credit Score Equivalent |
Mean Home Equity |
Engage property owners with high equity in vacation or rental homes
Over 8 million property owners have a Mean $98K in secondary home equity
Target property owners by the geographies with the highest home equity values
|
State |
Available Equity |
|
CA |
$2.3T |
|
TX |
$864B |
|
FL |
$853B |
|
WA |
$465B |
|
MA |
$476B |
Available equity in the top 5 states has surpassed $4T and 28M property owners
Convert consumers with higher equity values based on older loan origination dates
|
Mean Home Equity Value |
$370K |
$137k |
|
Loan Origination Date Initial loan or refinance event |
1990 |
2019 |
