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Allied Market Research

Home Equity Loans Market: Global Opportunity Analysis and Industry Forecast 2020–2027

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Jun 2021 | 57 Views
 
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Home Equity Loans Market Outlook - 2027

Home equity loans market size has attained a significant growth and is expected to follow the same trend during the forecast period. A home equity loan is a type of consumer debt or second mortgage. It allows owners of homes to borrow money against equity in their residence. It is a second mortgage, from the first mortgage one purchases the property, and can take additional loans against this property if have built up enough equity. The amount that a client can borrow from home equity loan is the value of the property minus the amount of any outstanding mortgages on the property. Home equity loans provide a large amount of money and is considered to be easier to qualify for other types of loans as well as putting property as collateral.

Covid-19 Scenario Analysis:

  • A home equity loan is a second mortgage, and mortgage lending has been totally changed during the coronavirus pandemic. It will be more challenging to obtain a mortgage.
  • The risk exposure by the mortgage lenders have been reduced so; the borrowers of home equity loans should expect limited loan availability and the approval requirements will be tougher.
  • Due to coronavirus pandemic lenders are dealing with demand and staffing issues

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers And Impact Analysis

Rise in home prices, trending home improvements and innovations, tax deduction of the interest, less payment of interest as compared to other ways of borrowings, availability of lump sum amount of cash up front, and fixed monthly payments are the factors which act as driver for the global home equity loans market. However, risk of losing your home in case of failure in making loan payments, high closing cost, cash-out refinancing, reverse mortgages and time consuming process are the factors which act as hindrance for the global home equity loan market. Furthermore, strong appetite for the home equity loan and being better option as compared to other ways of borrowing are the factors which act as lucrative opportunity for the global home equity loans market.

The global home equity loans market trends are as follows

Surge in the prices of the home boosted home equity

There is a rise in value of homes globally. According to the Federal Housing Finance Agency the prices of the houses rose 6.5% from the second quarter of 2017 to the second quarter of 2018. With the steady surge in the prices of home, homeowners are becoming more equity rich and will be able to tap into the reserve available. It is expected that homeowners will continue to tap home equity loan more in the forecasted period. As home equity loans are given against the appreciation in the market value of the property so surge in the prices of property will provide good amount of margin to take loan against it.

Technological advancements in home equity borrowing process

There is increase in technology-savvy homeowners in the market, so there is more need for digitalization in the process of home equity loan. There is an increase in investments in the automation of mortgages. Data and technology solutions are increasingly used by lenders to survive and grow in the market. In addition, digitalization in the loan origination process helps technology henceforth, reducing friction in the process. The use of artificial intelligence is increasingly adopted by home equity loan originators to give personal touch and personal advice. Henceforth, advancements in the technology provides an easy way for clients to take loans.

Key Segments Covered

Segments

Subsegments

  Types

  • Fixed rate loans
  • Home equity line of credit

  Service Providers

  • Local loan originator
  • Banks
  • Online
  • National broker
  • Credit unions
  • Others

  Deployment

  • Online
  • Offline

  Uses

  • Home improvement
  • Major purchases or appliances
  • Tuition or education costs
  • Medical expenses
  • Debt consolidation
  • Unplanned expenses

 

Key Benefits Of The Report:

  • This study presents the analytical depiction of the global home equity loans market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global home equity loans market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global home equity loans market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global home equity loans market analysis based on competitive intensity and how the competition will take shape in coming years.

Market Scope And Structure Analysis:

Report Metric

                Details

  Market size available for years

  2019-2027

  Base year considered

  2019

  Forecast period

   2021-2027

  Forecast units

  Value (USD)

  Segments covered

  Types, Service Providers, Deployment, Uses

  Regions covered

North America (US and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major companies analyzed include Bank of America Corporation, Discover Bank, Member FDIC, Flagstar Bank, LoanDepot LLC, Spring EQ LLC, TBK BANK, SSB, U.S. Bank, Pentagon Federal Credit Union, and The PNC Financial Services Group, Inc.

 

Questions Answered In The Global Home Equity Loans Market Research Report:

  • What are the leading market players active in the global home equity loans market forecast?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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