A home equity loan can be one way to access cash for home improvements, vacation, debt consolidation, or any other financial need you may face. Your home equity loan allows you to borrow against the equity in your home and pay it back over a long period of time. If you need to take out a small home equity loan, continue below […]
One of the benefits that home equity loans and home equity lines of credit (HELOCs) have over other borrowing options is that the interest is tax deductible. When you take out a personal loan or borrow from a credit card, for example, you pay a higher interest rate and cannot claim a deduction on your taxes. How Tax Plan […]
Using a HELOC to pay off your student loan debt could save you a lot of money in interest, but you risk losing your home if you can't make payments. Only use this strategy if you are sure that you can afford the payments until the HELOC is paid off.
If you are a homeowner and need money for a vacation, home improvements, debt consolidation, or to pay off credit card debt, you might be considering a home equity line of credit (HELOC). The HELOC lets you borrow against the equity you have built up in your home. Since your home serves as collateral for the line of credit, you […]