What is Home Equity? And How You Can Use It!
Home equity is a great asset to have. It is computed as the difference between the home’s market value and the sum the homeowner still owes. A large home equity is built over time as the homeowner is able to pay mortgage. It is largest when the homeowner is totally debt-free. Understanding Home Equity With […]
Second Mortgage or a HELOC? Which Is Better?
Choosing between a HELOC and a second mortgage can be confusing because both are loans that are attached to your home. Technically speaking, a HELOC and a second mortgage are both second mortgages, because you can only apply for them on top of your primary mortgage…so which is better and how are they different? HELOC […]
The Smartest Way to Tap Your Home Equity
Tapping your home equity is often the most convenient way to come up with a significant amount of cash in a relatively fast way. There is no need to sell taxable holdings and incur extra taxes and all you need is an approval. Here are 3 ways to tap your home equity with secondary home […]