NJ New Jersey, USA -- (SBWIRE) -- 07/27/2023 -- Latest Study on Industrial Growth of Home Equity Loan Market 2023-2028. A detailed study accumulated to offer Latest insights about acute features of the Home Equity Loan market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis.
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Major players profiled in the study are:
Bank of America Corporation (United States) , Citibank (United States), Truist Financial Corp. (United States), Reali Loans (United States), U.S. Bank (United States), Flagstar Bank (United States), Guaranteed Rate IL (United States), PNC Bank (United States), Discover Financial Services (United States), Pentagon Federal Credit Union (United States),
Scope of the Report of Home Equity Loan
Home Equity Loan is basically a second mortgage against an individuala€™s residential property. This allows individual homeowners to borrow capital against the equity of residential property which can be called collateral in this case. The amount of loan to be sanctioned under this scheme is derived from the equity value of the home as set by banks or credit unions. This type of loan, specifically, HELOCs was quite popular from 2004 to 2007 till the mortgage financial crisis. Following this, recently the home equity loan market started gaining popularity, with consumers being more conservative this time around and preferring the fixed-rate loans segment. Such Home Equity Loans are widely used for home restoration, educational expenses like tuition fees or medical expenses, and other personal financial requirements. Geographically, North America is the most dominant market the Home Equity Loans, which is expected to remain so.
US Congress has sanctioned the Home Equity Loans Consumer Protection Act (HELCPA) which regulates the Disclosure and Advertising of Home Equity Loans
In 2020, Pentagon Federal Credit Union, one of the largest credit unions in North America have announced merger plans with Sperry Associates Federal Credit Union. The members of the Sperry voted in favor of the merger. And with the completion of the merger, both the credit unions are expected to strengthen their product portfolio and market reach.
The Global Home Equity Loan Market segments and Market Data Break Down are illuminated below:
by Type (Fixed-Rate Loan, Home Equity Lines of Credit (HELOCs)), Application (Medical Expenses, Educational Expenses, Home Restoration, Debt Consolidation, Others), Sales Channels (Banks, Local Credit Unions, Housing Finance Companies, Online Platforms, Others), Loan Slab (Self-Occupied Residential Property, Non-Self-Occupied Residential Property)
- Asia Pacific Market has been Less Explored in Terms of Home Equity Loan Market Expansion
- Launching Innovative Products in order to Get Competitive Edge over a Large Number of Small and Big Competitors
- Home Price Appreciation
- Large Scale Penetration of Home Loan Market
- Consumer Lifestyle and Behavioural Changes
- Local Credit Unions are Highly Preferred during Home Equity Loans due to Lower Interest Rates than Banks
- Fixed-Rate Loans are widely preferred since the 2007 Mortgage Crisis
What can be explored with the Home Equity Loan Market Study?
- Gain Market Understanding
- Identify Growth Opportunities
- Analyze and Measure the Global Home Equity Loan Market by Identifying Investment across various Industry Verticals
- Understand the Trends that will drive Future Changes in Home Equity Loan
- Understand the Competitive Scenarios
- Track Right Markets
- Identify the Right Verticals
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Table of Contents
Global Home Equity Loan Market Research Report
Chapter 1 Global Home Equity Loan Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Productions, Revenue (Value) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Productions, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Home Equity Loan Market Forecast
Finally, Home Equity Loan Market is a valuable source of guidance for individuals and companies.
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