A blog about the ‘secrets of the elite’…
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Using a HELOC to Build Wealth
Tired of strict financing options that don’t allow you to use funds the way you want? With a HELOC you’ll never run into that issue… Short on Cash? Why Not Try Using a HELOC to Build Wealth? Unlike a mortgage which can only be used to finance a home, or other types of loans that…
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HELOC Strategy Explained
Would you like the HELOC strategy explained to you?That’s what we’ll be diving into today. Whatever your payment arrangements during the draw period—whether you pay some, a little, or none of the principal amount of the loan—once the draw period ends, you enter the repayment period. During this time you must make payments on the principal…
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How Much Money Can I Get With a HELOC?
If you’ve been keeping up with our emails by now you know how home equity works, what a HELOC is and how it’s superior to other home financing options. But you may be wondering… How Much Money Can I Get With a HELOC? Before we get into that, first let’s review what LTV means. LTV means…
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You’re Gonna Love This HELOC Feature..
Wondering how long you can withdraw funds from your HELOC?Unlike other types of home loans, HELOCs are unique because they work in two phases. A draw period and a repayment period.Unlike conventional mortgages where you’re locked-in for 30-40 years or other options like personal loans that offer short terms for only 1 to 5 years… HELOC…
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HELOC vs Mortgage Interest Rates
Curious how HELOC vs mortgage interest rates compare? That’s what we’ll be getting into in today’s post. But first…Surprisingly enough around 30% of people pay for their homes in cash each year. Doing this will entirely avoid the need to pay interest on a loan. However, if you’re like the majority of us, you’ll need to borrow money…
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The TRUTH About Variable HELOC Interest Rates
Hey, did you see our blog post yesterday? Hopefully so – it was an important one because we explained the difference between how interest is calculated on a mortgage vs. a HELOC. We showed how a home equity line of credit (HELOC) can save you hundreds of thousands of dollars with its repayment flexibility, by calculating…
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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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