If you’ve had a mortgage for quite some time, you can use the home equity you’ve built to take out another loan. Through regular payments and long-term reliability, you have established yourself and the financial loan industry will reward you with more access to funds. One of the ways you can take advantage of your current status is by using your home equity as collateral. It’s important to consider what your home equity position is. Have you been paying off your mortgage for a long time and have a lot of equity? Your equity builds up every year in your property and as you pay off the loan, you’re also increasing that equity.