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 »
Archive for the ‘home equity’ Category
When Is a Home Equity Loan a Good Idea
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 »
How To Get The Best HELOC Rate In 2020
Are you considering getting a home equity line of credit, aka HELOC in 2020? 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 in 2020. Keep Up Your Credit Score As with any time you borrow money, your credit score will have a significant impact on your ability to qualify and the rate you get. To score the… read more »
HELOC vs. Home Equity Loan: Which Is Right for You?
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 »
Home Equity Loans In 2019 – What Are They And How To Qualify?
Most of us know there are many advantages associated with being a homeowner including utilizing the equity in your home in the form of a home equity loan. Of course, being a homeowner doesn’t automatically qualify you for a home equity loan. You must have a certain percentage of equity, the income and credit to support the loan. This article will walk you through what a home equity loan is, discuss pros and cons, and outline what you may need to qualify for a home equity loan in 2019. What Is A Home Equity Loan? A home equity loan is a loan you take out against the equity in your… read more »