Home Equity Uses

06
Jun
Can I Use a Home Equity Loan to Buy Another House?

For most American homeowners, their home is the single largest asset in their investment portfolio. You can borrow money to purchase real estate at a low interest rate and deduct the mortgage interest on your federal taxes. Real estate is a relatively safe investment since it seldom declines in value, and you get to use […]

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30
Jul
Can You Use a Home Equity Line of Credit for Business Expenses?

Data shows that cash flow issues are the reason why one in four small businesses don’t survive past the first year. It’s also the reason why half of all small businesses don’t survive beyond the fifth year. Successfully managing working capital during the first year when you don’t have credit is a huge challenge. Continuing […]

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28
Jul
Should You Use a Home Equity Loan or Line of Credit for Debt Consolidation?

Debt consolidation is when you combine several outstanding debts into one, larger debt with a lower interest rate. Consumers burdened with various forms of debt, especially high interest rate credit card debt, may feel like they struggle to pay down their debt or never really make any progress. Debt consolidation can be a tool for […]

Posted in: Home Equity, Home Equity Uses,
28
Jul
Can You Use a Home Equity Loan or Line of Credit on an Investment Property?

Homeowners have the opportunity to borrow against the equity in their homes by taking out a home equity loan or home equity line of credit (HELOC). Home equity is the difference between the current market value of your home and the outstanding balance on your mortgage. You can use the proceeds from your home equity loan or home […]

Posted in: Home Equity, Home Equity Uses,
28
Jul
Should You Use a Home Equity Loan or Line of Credit for Vacation?

Although the staycation has become a popular phenomenon for those who don’t have the time or money to leave home, most people want to be able to afford a nice vacation. Whether it’s a family trip to Disney World, a trip to the beach with friends, or an international adventure, vacations give you the opportunity […]

Posted in: Home Equity, Home Equity Uses,
28
Jul
Should You Use a Home Equity Loan or Line of Credit for Remodeling Improvements?

Styles may not change as quickly for home design as they do in fashion design, but over time, your home can start to look like it needs a makeover. Not only do styles change, but preferences related to your home’s functionality also change. For example, homes today integrate technology in so many ways, from automating […]

Posted in: Home Equity, Home Equity Uses,