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Category: Home Equity

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.

July 24, 2020

How to Check the Reputation of a Contractor

When your home remodeling project requires more skill than you possess, turning to a qualified contractor to complete the job might be a good idea. A contractor can take care of ordering materials, offers a satisfaction guarantee, and helps remove the stress associated with a home renovation project. Leave the work to the professionals and enjoy the results.

June 12, 2020

Top 5 Ways to Leverage the Equity in Your Home to Meet Financial Goals

Borrowing money to increase your spending power can be a smart financial move. Under the right circumstances, using a home equity line of credit (HELOC) can open the door to fantastic returns. When you're strategic about leveraging the equity in your home, it's possible to reach financial goals sooner and save money while doing it. While a HELOC can be used to pay for almost any expense, five specific uses garner the most attention. Read on to discover why.

April 20, 2020

Pros and Cons of Using a HELOC During a Financial Emergency

Financial experts recommend households maintain an emergency savings account equal to six months of living expenses. A hefty savings balance ensures there's enough money to pay bills and buy groceries in the event of an unexpected job loss, health diagnosis, or significant expense that would otherwise derail your budget. Many Americans fall short of this savings ideal. A recent Economic Well-Being study found that four out of ten U.S. households would have trouble covering an emergency expense as small as $400. 

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