When looking for extra money today, there are two popular options many consumers consider – a home equity line of credit (HELOC) and a personal loan. From home improvements to debt consolidation, there are loans available to help with your financial needs, which is why many people will look at using the equity in their… Read More
How Much Equity Do You Need for a Home Equity Loan?
When looking to remodel your home, consolidate debt, pay off student loans, buy an RV, pay taxes, or just have money for an emergency – a home equity loan is an ideal way to borrow money for these dreams and emergencies. The ways in which you can use a home equity loan are almost endless…. Read More
5 Factors that Influence Home Equity Approval
When considering the factors that influence the approval of a home equity loan, and for any loan actually, the number one thing that your financial institution will consider is your creditworthiness, i.e., can you pay back the loan. These are the Five Factors That Will Influence Your Home Equity Approval. Income and employer Mortgage obligation… Read More
What Documents are Needed to be Approved for a Home Equity Loan
When you’re in the market for a home equity loan, your bank will want to know about your current mortgage and your creditworthiness. That is, have you made your mortgage payments on time, have you built equity in your home, and can the bank take a risk on you and lend you money. Therefore your… Read More
What is a Home Equity Line of Credit Loan or a HELOC?
A home equity line of credit – or HELOC, the acronym commonly heard – is one of the best kept secrets if you are a homeowner. A HELOC allows you to borrow money from the equity you have in your home. Typically the less you owe on your home mortgage, the more value you have… Read More
Can I Get a Home Equity Loan with Bad Credit?
You can, but it is difficult. That’s the short answer. Home equity loans and home equity line-of-credit loans or HELOC provide you with cash using the equity you have built up in your home. However, trying to get a home equity loan with bad credit is an obstacle. Consider these 3 steps first: Understand the… Read More
What Are the Benefits of a Home Equity Line of Credit?
As you build equity in your home, you start to see certain benefits, such as the possibility of opening a home equity line-of-credit (HELOC). This type of loan borrows against your equity to give you a credit limit which you can use at any time. Like a credit card, a home equity line can be… Read More
What’s the Difference: Home Equity Loan vs. Line of Credit
When looking at line-of-credit options and home equity loans, it’s important to understand that the main difference is the feature. A home equity loan is a single disbursement that requires a fixed payment. A home equity loan is usually a fixed rate. A home equity line-of-credit, or HELOC, is usually an adjustable rate loan because… Read More
How to Get Out of Debt with a Home Equity Line of Credit
Are you trying to make a big life change but need a little financial help? With all the financing choices out there, it can be challenging to find the right loan or credit option for your situation.
How to Get a Better Loan by Banking Locally
Small businesses, which create the majority of new jobs, depend heavily on community banks for financing. Although small and mid-sized banks control less than one-quarter of all bank assets, they account for more than half of all small business lending. Big banks, meanwhile, allocate relatively little of their resources to small businesses. The largest 20… Read More