Home Equity

The Home Equity Line of Credit or HELOC is a popular second mortgage with homeowners because it enables them to borrow against the equity in their house, to consolidate debt, remodel their home and much more. Qualifying for a HELOC or home equity loan involves meeting certain financial requirements, including a manageable debt-to-income ratio or … Read more

Homeownership often involves undertaking improvements to enhance comfort, functionality, and property value. Financing these projects through home improvement loans raises questions about the tax deductibility of the interest paid on home equity loans an HELOCs. Understanding the Internal Revenue Service (IRS) guidelines is crucial to determine eligibility for home equity interest deductions. The tax laws … Read more

Homeowners often leverage home equity loans to fund improvements, consolidate debt, or finance other investments. However, when it comes to tax deductions, the rules can vary, especially for rental properties. The Internal Revenue Service offers specific guidelines for deducting home equity loan interest, making it essential for property owners to understand what qualifies for a … Read more

HELOC is the hottest loan type for homeowners seeking cash out in 2024. People love the home equity line of credit because it allows borrowers to leverage their home equity.  The HELOC loan process varies depending upon how prepared and organized you are. The most common question we get from consumers considering a home equity … Read more

Many Americans want to get a home equity line of credit or HELOC on their primary residence. But what about a HELOC on a rental property? It’s possible to get a second mortgage or equity line of credit on a 2nd home or rental property, but the HELOC loan requirements are more challenging than for … Read more

More and more people have been inquiring about the possibility of refinancing a home equity loan or credit line, so we thought we post an article outlining the pros and cons and requirements to see if you are a good fit. Many homeowners have taken out home equity loans and equity lines of credit to … Read more

Home improvement loans have been helping American consumers brighten their neighborhoods and increase their wealth for decades. With every passing day, our needs and priorities change.  When you’re young and living with your parents you never think of purchasing a home or a car but as you grow up, you’re more mature and you start … Read more

Buying a home is an investment, and equity is an indicator of financial stability. However, the hefty cost of refinancing often makes it difficult for people to choose it as an option. Borrowers now have the ability to get cash out without refinancing with programs such as home equity loans and lines of credit. You … Read more