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Category: Home Equity

May 03, 2022

Six Reasons to Use the Equity in Your Home

There are many ways to use the equity in your home, you can use it for planned expenses or have it ready for the unexpected. In this video, we compiled six of the most common reasons people may tap into the equity in their home.

March 08, 2022

Hidden Money in Your House – Understanding, Building, and Accessing Home Equity

If you own a home, building home equity — the value of your home minus what you owe on your mortgage — is an important long-term strategy for building wealth. That’s because home equity is a resource you can borrow against to pay off debt or make investments that help your money grow. With this in mind, you may be wondering how much equity you have in your home, how you can access it, and how you can use it to build your financial future.

November 16, 2021

Traditional Mortgage vs. Home Equity Loan: Which is Right for You?

Whether you're ready to stop renting or already live in your forever home, understanding the difference between a traditional mortgage and a home equity loan is no less confusing. While both loan products are related to homeownership, they are not the same. Understanding how and why they differ could help clarify if either could be beneficial to you.

August 24, 2021

5 Ways to Use a HELOC This Year

Home values are on the rise across the country, which is excellent news for homeowners. Qualified borrowers can use a home equity line of credit (HELOC) to access the monetary difference between their home's market value and any loan balances or liens owed on the property. These funds can be used for almost any purpose, but homeowners who are strategic with their HELOC spending can enhance their financial standing before year-end. Here's how.

June 22, 2021

How Do I Find Out My Home’s Value?

For borrowers looking to apply for a Home Equity Loan or Line of Credit, the value of your home is going to be a significant factor in determining how much you can be approved for. As a result, it’s normal for you to wonder what your home is worth. There are a couple of ways a borrower can find this information, each with varying degrees of accuracy.

June 09, 2021

How to Plan Your Home Renovation So It Doesn’t Go Over Budget

If a home renovation tops your summer to-do list, figuring out how you'll pay for it likely comes in a close second. According to HomeGuide, the average cost to remodel is between $19,800 and $73,200. Even if you have money set aside for your project, making sure you don't go over budget could help you avoid remodeling remorse. Here's how to stick to your home renovation budget.

April 26, 2021

5 Backyard Renovation Projects That Increase Home Values

Warmer temperatures have arrived, along with the desire to enjoy the outdoors. While a drive to the beach or lake might be on your summer travel list, you don't have to go that far to relax in the sun this season. Backyard renovation projects could shine a light on your living space in ways you didn't think were possible. A redesign might also increase the value of your home.

September 11, 2020

What is the Difference Between a Secured and Unsecured Loan?

If you’re looking to borrow money, you’re undoubtedly aware that there are many loan options to choose from on the market today.  When shopping for a loan, you will notice that loans typically fall into two categories, secured and unsecured.  Your borrowing need and financial circumstances will ultimately  determine which type is the best fit for you,  but it’s also important to understand  the basic characteristics of the each loan.

August 24, 2020

Pros and Cons of Using a HELOC

If you need extra funds and have equity in your home, securing a home equity line of credit (HELOC) can put cash into your account without selling your home. Living in a neighborhood with rising home values might even increase the amount you can borrow. Like other loans, a HELOC has advantages and disadvantages that must be weighed against your overall financial goals.

Contact us and we’ll answer your questions.