Category: Half Your Mortgage
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How to Use a HELOC: The 6 Biggest Mistakes to Avoid
Have you been wondering how to use a HELOC correctly? Are you secretly afraid of making a mistake while getting your HELOC? It’s also okay to be cautious and ask questions. This is your home we’re talking about after all. A home equity line of credit (HELOC) can help you get access to cash quickly and…
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Should You Use a Big Bank for an Equity Line of Credit?
Did you know that HELOCs have been around since 1929? Home Equity Lines of Credit got their start during the Great Depression when many farmers needed loans to avoid foreclosure. Despite their long history, the popularity of HELOCs have come and gone over the past several decades. They’ve also evolved over the years, conforming to the…
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Which Lenders Provide the Best HELOC Rates & Terms?
Wondering which lenders offer the best HELOC rates? While some big banks DO offer HELOCs… Regional banks and credit unions tend to offer the lowest rates and best terms (not to mention a more personable, human touch.) Here are just a few reasons you may want to also consider starting your search for a HELOC at your local credit…
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What to Expect When Talking to a HELOC Lender
Curious as to what you can expect when talking to a HELOC lender or loan officer? You’ll typically meet with a loan officer after prequalifying for a HELOC.(Although it may be earlier in the event that you choose to work with a credit union or bank in your local area.) When meeting with a loan officer,…
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How to Compare HELOCs & Get the Best Deal
Wondering how to compare HELOCs and lock-in the most affordable rates? Learning how to utilize your equity when you need it, can help you get ahead financially. If you have a good chunk of equity in your home, a home equity line of credit (HELOC) can be a great tool to leverage. Understanding this type…
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How Can I Use My Home Equity?
Does the current state of the economy have you worried? If so – you’re not alone. After a few bumpy years of persistent inflation and interest rate hikes, money may already be tight for you. If the economy goes into a deeper slump it could leave you scrambling to come up with the funds for necessary…
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Can You Refinance a HELOC?
Wondering if a HELOC can be refinanced?That’s a great question. After all, financial situations can change over time. The ability to withdraw funds from your HELOC ends after the draw period (typically 10-15 years). As you near the end of the draw period, that’s the time to start assess if you need to refinance the loan. The…
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Did You Know THIS About Home Equity?!
How much home equity do you have right now? Are you in your home because you enjoy it? Or because you enjoy your current mortgage rate? More and more people aren’t making homeownership decisions based on where they live or even their home’s features… A record number of homeowners are “suffering” from what the Urban…
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Is a HELOC Line of Credit Allowed in Every State?
So you’ve been looking into HELOC line of credit and loans… Curious if HELOCs are the same in every state? Great question! The HELOC is an excellent financial tool and beloved by many as an efficient leverage point for so many different purposes. When it comes to purchasing real estate or investing, you may decide…
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Can I Use This HELOC Strategy to Pay Off Home(s) in Other Countries?
Looking for a HELOC strategy to pay off home(s) in less than 10 years? Wondering if home equity lines of credit (HELOCs) are available in other countries like Canada or Mexico? Good question.Yes – HELOCs are available in the US, Canada and other countries. So what’s the HELOC strategy to pay off home(s) in Canada?…