Category: Half Your Mortgage
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How to Pay Off Your Home In 10 Years or Less
So you’re wondering how to pay off your home in 10 years or less… Which will save you more money: a mortgage OR a HELOC?The answer is a HELOC! A HELOC allows you to avoid the commitment of a 15 or 30 year mortgage and can save you hundreds of thousands of dollars in interest. What sets the…
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Is HELOC Interest Tax Deductible?
“Is HELOC interest tax deductible?” It all depends on how you use the funds. As long as the proceeds are used for home improvement or business purposes, the interest IS tax deductible. Another cool fact – there is a $750K interest deduction cap per year! You do not have to get a second mortgage or sell your home to…
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Mortgage vs. HELOC Closing Costs
Keeping up with our blog posts?Hopefully so! We’ve covered a lot of important information in the last couple days. But what about closing costs and other fees, right?There are always closing costs with any home loan. In case you didn’t know – closing costs can refer to any fee incurred when originating, underwriting, closing and recording a loan.…
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How to Use Your Equity in Your Home as an Emergency Fund
Wondering how to use your equity in your home? Are you also in need of an emergency fund?Here’s something that may surprise you… Nearly half (46%) of U.S. consumers have faced at least one unexpected expense in the last 90 days with the average emergency expense costing around $1,400. Considering that the average cost of living is…
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Is It Easy to Get Approved for a HELOC?
Are you ready to save BIG by switching to a HELOC? The good news is – if you qualify for a mortgage — you’ll easily qualify for a HELOC since home equity lines of credit have fewer qualification requirements… How Quickly Can You Apply For A HELOC?You can apply for a HELOC 30-45 days after purchasing a…
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How Does HELOC Affect Credit Scores?
Have you been wondering how does HELOC affect credit scores? That’s a great question… When you first apply for a HELOC the lender will check your credit score. NOTE: This “hard pull” or “hard inquiry” has the potential to temporarily lower your score. If you haven’t applied for other credit in the past 6 months, the…
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How to Use Home Equity to Build Wealth
Wondering how to use home equity to build wealth? Or what investments you can make using your HELOC funds? When in need of investment/capital then a HELOC is one of the best choices. It allows you to tap into a home’s equity that would otherwise remain unused! Plus they generally have lower interest rates than other forms…
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HELOC for Real Estate Investing
Ever wonder how some people are able to afford multiple homes?Nowadays for the average person, paying off ONE HOME is quite an amazing feat… But what if there was a specific strategy these people use to pay off their properties quickly and increase their cash-flow so that they can easily purchase additional homes? Using a HELOC for Real Estate Investing is a match…
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Why A First Lien HELOC is the One You Want
Did you know there are two different types of HELOCs? There are first lien HELOCs and the more common second lien HELOCs. Over the past week we’ve also gone into detail about the various benefits that a HELOC can offer. However, not just any HELOC will provide you with all these benefits… With refinancing one may adjust…
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The HELOC Mortgage Strategy is an Open Money System
Looking for a HELOC Mortgage Strategy to pay off your home in HALF the time? Do you know what a closed money system is?A mortgage is a “closed money system” meaning any money put in, can never come back out unless you perform a costly refinance (45 to 120 days) or sell the home (~124 days). So when it comes to a…