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Archive for the ‘home equity’ Category

A happy woman sees she got a great rate on her HELOC.

How To Get the Best HELOC Rate

access_time Posted on: October 31st, 2022

Are you considering getting a home equity line of credit, HELOC? If so, keep reading because we’re sharing some tips on how you can unlock the equity in your home at a low rate.  Whether you’re making home improvements, financing a life event, or consolidating debt, you want to secure the lowest interest rate possible to help you save on the amount you borrow. Here’s how to get the best HELOC rate.  Keep Up Your Credit Score As with any time you borrow money, your credit score will significantly impact your ability to qualify and the rate that lenders offer. You can use your HELOC funds for just about anything,… read more »

A family of four sitting on the front steps of a house they have a good amount of home equity in.

The Housing Market & Your Home Equity

access_time Posted on: September 16th, 2022

Home prices are rising across the U.S. along with interest rates and the cost of living. But it’s not all bad news. When the market value of your home increases, the amount of home equity you have goes up with it.  You can then use your home equity to fund improvements (or anything else!), which will increase the value of your home even more. Read on to find out everything you need to know about the current housing market and how it impacts your home equity. What Is Home Equity? Home equity is the difference between what your home is currently worth and what you owe on your mortgage. Here’s… read more »

Can I Refinance My Home Equity Loan?

access_time Posted on: July 22nd, 2022

Can I refinance my home equity loan? Many homeowners wonder if refinancing an existing home equity loan or line of credit is a good idea. Let’s look at why you might want to refinance your existing loan and how to go about doing it. Double Dip: Can I Refinance My Home Equity Loan? Your home is your most valuable investment and many property owners leverage that value with a home loan or line of credit. Changes in the property market and your personal financial situation might have you wondering if it is possible—and smart—to refinance your existing loan. Why Refinance? While there’s theoretically no limit to the number of times… read more »

photo of first time home buyers

First Time Home Buyer Guide

access_time Posted on: July 8th, 2020

Purchasing your first home can feel like a rite of passage. It’s a part of the American dream that you might have always imagined as part of your future, so once you’re ready to make it a reality, you want to do it right.  There’s a lot that goes into buying a home, whether it’s your first, or you just haven’t owned a home in a while, but having the best resources and information will help you have a successful experience.  You can use this First Time Home Buyer Guide to help you through the process of purchasing your first home. Who is a First Time Home Buyer? When you… read more »

couple took out a home equity loan for home improvements

When Is a Home Equity Loan a Good Idea

access_time Posted on: March 23rd, 2020

As you pay off your home loan, you’ll build equity in your home. Equity is the value of your home that’s considered to be debt-free, or already paid for, and it can be used as collateral against a loan if you need it.  A home equity loan is one way to use the equity you’ve worked hard to build up to meet pressing financial needs. When A Home Equity Loan Makes Sense A home equity loan can be a great way to handle sudden expenses and meet other financial needs, but it needs to be used wisely. After all, you’re putting your home on the line when you borrow against… read more »

home equity vs heloc

HELOC vs. Home Equity Loan: Which Is Right for You?

access_time Posted on: May 28th, 2019

If you’ve been making payments on your mortgage, you have likely built up equity in your home. Not only does that mean you’ve paid off a portion of your house, but the equity may also be used as a resource when you need it. There are two ways to use your home’s equity to your advantage:    Getting a home equity line of credit, or HELOC    Borrowing a home equity loan But which one is best for you? To start, it depends on your unique situation and your goals. HELOC vs. Home Equity Loan Comparison In order to understand the differences, along with the pros and cons of each, let’s compare… read more »

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