Understanding the Basics of Home Equity in 2021

By definition, home equity is the difference between the property’s current market value and the amount you still owe on the mortgage for that property. For example, if your home is currently valued a...

What is Equity?

How to Build Equity in My Home Buying a home is an investment. That’s one of the major perks of homeownership. As with any investment, the idea – and goal – is to build wealth over time. The concept i...

Comparing the Home Equity Line of Credit (HELOC) & Cash-Out Refinance

Start with Your Home’s Equity Simply put, home equity is the market value of your home. The amount of equity you’ve built throughout the repayment period of your loan is determined by taking the appra...

What does a HELOC entail?

The government agency noted that when setting up a HELOC, homeowners typically have to pay an appraisal fee, application fee and potentially a percentage point of the credit limit up front. As with no...

5 Questions to Ask Before You Refinance This Year

A home loan refinance is about striking at the right time, particularly when it comes to interest rates, home equity, and your financial and living situation. Refinancing without carefully considering...

Millennials Could be Foregoing Equity Wealth

While reams of research have been done on why members of the Millennial generation are less likely to own a home compared to their baby boomer and Gen X elders at the same age, the Urban Institute (UI...

Cash Out Refinancing in 2022: The Definitive Guide

How a Cash-Out Refinance Works A cash-out refinance is a type of loan where a borrower “cashes in” their home equity for cash in hand. How does it work? When you take out a mortgage to buy your home, ...

Can a Cash-Out Refinance Help with Major Expenses?

A cash-out refinance is a method for you to tap into your home equity. You’ll refinance your existing mortgage into a new one for a larger amount and pocket the difference, minus closing costs. But, r...

5 Benefits of a Cash-Out Refi

If you’ve built up enough equity in your home, it may be a good idea to go through with a cash-out home refinance. Here are 5 reasons why you might want to. 1. You can use the cash you get for major e...