Home Equity

A home equity loan is a fantastic way to tap into your home’s equity without doing a cash-out refinance. But before you can receive a portion of your equity in cash, the lender must know the home’s value. Typically, that requires a new home appraisal. But there are exceptions. Everything You Need to Know About … Read more

One of the unique features of a HELOC is the draw period, a phase during which borrowers can access funds up to a pre-approved limit. A common question about HELOCs is whether you can pay off the balance during the draw period—and the answer is yes. Paying off a HELOC during the draw period offers … Read more

The Home Equity Line of Credit or HELOC is a popular second mortgage with homeowners because it enables them to borrow against the equity in their house, to consolidate debt, remodel their home and much more. Qualifying for a HELOC or home equity loan involves meeting certain financial requirements, including a manageable debt-to-income ratio or … Read more

Homeownership often involves undertaking improvements to enhance comfort, functionality, and property value. Financing these projects through home improvement loans raises questions about the tax deductibility of the interest paid on home equity loans an HELOCs. Understanding the Internal Revenue Service (IRS) guidelines is crucial to determine eligibility for home equity interest deductions. The tax laws … Read more

Homeowners often leverage home equity loans to fund improvements, consolidate debt, or finance other investments. However, when it comes to tax deductions, the rules can vary, especially for rental properties. The Internal Revenue Service offers specific guidelines for deducting home equity loan interest, making it essential for property owners to understand what qualifies for a … Read more

HELOC is the hottest loan type for homeowners seeking cash out in 2024. People love the home equity line of credit because it allows borrowers to leverage their home equity.  The HELOC loan process varies depending upon how prepared and organized you are. The most common question we get from consumers considering a home equity … Read more

Many Americans want to get a home equity line of credit or HELOC on their primary residence. But what about a HELOC on a rental property? It’s possible to get a second mortgage or equity line of credit on a 2nd home or rental property, but the HELOC loan requirements are more challenging than for … Read more

More and more people have been inquiring about the possibility of refinancing a home equity loan or credit line, so we thought we post an article outlining the pros and cons and requirements to see if you are a good fit. Many homeowners have taken out home equity loans and equity lines of credit to … Read more