- Guide to Home Equity Investment: Pros and Cons
A home equity investment lets you access your home’s value without taking on new debt. It differs from traditional loans by offering cash with no interest charges or monthly payments. Homeowners typically repay the company when they sell the home or reach the end of the agreement. This can be an attractive option for unlocking… read more…
- How to Use a HELOC for a Down Payment
A homeowner who has equity in a primary residence may be able to use a home equity line of credit (HELOC) to make the down payment on a second home. The amount of equity limits the amount of money a… read more…
- How Does Equity Sharing Work?
Equity sharing allows homebuyers with low or no down payment to buy a home. Investors also get tax benefits and a low-risk investment. These qualities make equity sharing an attractive alternative to other home buying options like taking out a… read more…
- What Are the Closing Costs for a HELOC?
With home values on the rise, many homeowners are tempted to access their equity for low-cost borrowing. Instead of refinancing or selling your home, you can use a home equity line of credit (HELOC) to borrow money as you need… read more…
- HELOC vs. Cash Out Refinance: Key Differences
Home equity lines of credit (HELOCs) and cash-out refinances are two methods of tapping into your home equity for cash. They are usually used in the consumer mortgage market to facilitate refinancing property and borrowing against the equity in your home. Cash-out refinances and HELOCs are quite different financial instruments but can be used to accomplish… read more…
- What Is a Fixed-Rate HELOC?
A home equity line of credit, or HELOC, typically uses adjustable rates that depend on market trends. But with a fixed-rate HELOC, you can lock in a rate that lasts throughout the life of the agreement. Since the rate never changes,… read more…
- How Much Equity Do You Need for a HELOC?
To take out a home equity line of credit (a HELOC), you need to have at least 15% to 20% equity in your home. The exact amount depends on your lender and your financial details, such as credit score, debt-to-income ratio and the home’s value. However, most, if not all, will require this as a… read more…
- What Is a Home Equity Line of Credit (HELOC)?
In a perfect world, you wouldn’t have to borrow any money because you’d always have enough. In reality, there are times when you don’t have the cash for your child’s tuition bill, your own student loan payments or other bills. To get… read more…
- Can You Use a HELOC as an Emergency Fund?
Time and time again, financial advisors discuss the importance of having an emergency fund. No one wants to be surprised by an unexpected trip to the hospital or the car repair shop. If you’re not good at saving money, you… read more…
- 7 Steps to Building Equity in Your Home
Building home equity is important. It’s your financial stake in your house and since it’s considered an asset, you can use your home equity to finance your kid’s college education, remodel your current house, buy another home or supplement your… read more…
- What Is Home Equity?
Home equity is basically how much of your home you actually own. You can calculate by taking the appraised value of your home and subtracting the balance remaining on your mortgage. This is your home equity. It matters because you can borrow against this money to improve your home and raise the property value or… read more…
- Pros and Cons of Tapping Home Equity to Pay Off Debt
If you’re getting hounded by debt collectors or your monthly minimums are eating up a huge chunk of your budget, consolidating your bills can give you a little more breathing room. Transferring your high interest credit card debt to a… read more…
- Why You Shouldn’t Count on Your Home Equity for Retirement
Many of us have been taught to look at the purchase of a home as a good investment. When we purchase a home, we are investing in a neighborhood, a school system, and hopefully a safe community to raise our families and spend a large portion of our lives. Buying a home is also a… read more…