Home Equity Advice & Calculators

Paying for a kitchen remodel

Wed, 01 Jul 2009 21:24:45 GMT

A kitchen remodel can be paid for with a variety of financing options. You can enhance the beauty of your home and boost its resale value with a kitchen remodel. However, it’s important to choose the right type of financing for your needs. Here are several good options ...

Paying for a home renovation

Wed, 01 Jul 2009 21:24:45 GMT

Investigate these options to finance your home renovation. Planning a home renovation? Renovating can be a great way to boost your home’s resale value, and maybe even increase your living space. But it’s important to choose the right type of financing for yo...

How to save money on home renovation costs

Wed, 01 Jul 2009 21:24:45 GMT

Planning to remodel your home? Here are some smart ways to save big bucks on your home renovations. If you've been thinking about remodeling, you may be in luck. Remodeling costs have started to drop as the economy continues to weaken and fewer people are spending on home improvements. That means y...

How to pay for a home addition

Wed, 01 Jul 2009 21:24:45 GMT

A home addition can be paid for with a variety of financing options. Planning an addition to your home? A home addition can be a great way to increase your living space and boost your home’s resale value. But it’s important to choose the right type of financing for yo...

How to pay for a bathroom remodel

Wed, 01 Jul 2009 21:24:45 GMT

A bathroom remodel can be paid for with a variety of financing options. You can enhance the beauty of your home and boost its resale value with a bathroom remodel. However, it’s important to choose the right type of financing for your needs. Here are several good options...

Financing a home renovation

Wed, 01 Jul 2009 21:24:45 GMT

Consider the size of your project and how much you need to borrow before choosing a type of financing. Renovating your house -- whether it’s building an addition, giving the kitchen a facelift or finishing the basement -- adds to your quality of life and increases the resale value of your home. Renova...

Financing a home office addition

Wed, 01 Jul 2009 21:24:45 GMT

Financing a home office addition is possible through a variety of loan products. A home office is more and more a common part of today’s homes. As a number of workers telecommute full-time or at least some of the time, a home office has almost become a necessity for many...

Can you afford to remodel?

Wed, 01 Jul 2009 21:24:45 GMT

Not sure if you can afford to remodel your home? Read on for information about financing a home improvement project. The high sticker price of any major home improvement project can make a homeowner think twice about whether it’s going to fit into the budget. Fortunately, there are a number of excellent financing o...

Qualifying for a home equity loan

Wed, 01 Jul 2009 21:24:26 GMT

Q: Is it possible to qualify for a home equity loan before completing an addition to a home? (We are adding a level to a ranch but need some more funds to complete the job.) A: If you have enough equity in your home to cover the loan you need, the state of your renovation project should not be a problem. You are free to use the money from a home equity loan for any purpo...

Home equity terms and definitions

Wed, 01 Jul 2009 21:24:26 GMT

Considering a home equity loan? Understanding some common terms and definitions can help step you through the process. Getting a home equity loan is a bit different from applying for a first mortgage. Understanding the following home equity terms can help your application go more smoothly. • Appraisal: A written ana...

Home equity loan vs. home equity line of credit

Wed, 01 Jul 2009 21:24:26 GMT

Consider the amount you need to borrow and what you need it for to determine if a HEL or HELOC is right for you. If you’re a homeowner, you can borrow against the value of your house through either a home equity line of credit (often called a HELOC or a line) or a home equity loan (often called a HEL or loan). ...

Home equity loan standards tighten

Wed, 01 Jul 2009 21:24:26 GMT

As the housing market has cooled, lenders have tightened the standards they use when granting home equity loans and home equity lines of credit. When the real estate market was booming, getting approved for a home equity loan or line of credit was usually a very simple process. Rising house values gave homeowners a lot of equity to borrow aga...

Home equity line of credit

Wed, 01 Jul 2009 21:24:26 GMT

If you need a flexible, inexpensive way to borrow, then a home equity line of credit secured by your home may be the right option for you. A home equity line of credit is a form of revolving credit in which your home serves as collateral. You can use your home equity line of credit for major items such as education, home improvements, n...

Home equity credit line: Is it right for you?

Wed, 01 Jul 2009 21:24:26 GMT

Home equity loans are a popular way to borrow money. Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways. You will fi...

Getting a bad credit home equity loan

Wed, 01 Jul 2009 21:24:26 GMT

Some tips for those with bad credit who have equity in their home. When used properly, a bad credit home equity loan may help you improve your credit rating. A home equity loan allows you to tap into your home’s built-up equity, which is the difference between the a...

A home equity line of credit (HELOC) offers flexibility and convenience

Wed, 01 Jul 2009 21:24:25 GMT

A home equity line of credit can help you fund home improvement projects. Home equity lines of credit are one of the most convenient and sensible financing solutions available to homeowners when it comes to funding home improvement projects. A home equity line of credit (H...

A home equity line of credit: What to ask before you sign

Wed, 01 Jul 2009 21:24:25 GMT

Don't take out a HELOC until you've asked all the right questions. A home equity line of credit (HELOC) can be a useful way to tap into your home’s equity before you sell it. Just make sure you keep in mind the fact that you will not have that equity available to yo...

What to do if your credit line is spiraling out of control

Wed, 01 Jul 2009 21:24:25 GMT

Feeling overwhelmed by steadily increasing debt? Here's how to take control of your credit. There’s a reason why lines of credit are so popular: they let you draw money only when you need it, without having to borrow a big lump sum, and they offer flexibility on your monthly payments. Unfor...

Using home equity to smooth your income

Wed, 01 Jul 2009 21:24:25 GMT

Tapping the equity in your home with a home equity line of credit can help you cope with an income that rises and falls and expenses that stay the same. Do you have ups and downs in your income? This is a common problem for people who are self-employed, whose work has seasonal highs and lows, and those who are compensated partly through salary, partl...

Using a second mortgage loan for renovations

Wed, 01 Jul 2009 21:24:25 GMT

If you plan to buy a home and renovate, a second mortgage can be the answer. A second mortgage is one of several available options that can help you finance the cost of a home renovation. If you have built up a considerable amount of equity in your home, you may want to consi...

Using a home equity loan to invest

Wed, 01 Jul 2009 21:24:25 GMT

There are many issues to consider before using your home as a source of investment capital. Using a home equity loan to invest can sometimes be advantageous, but it’s not something you should enter into lightly. What is a home equity loan? Home equity is a person’s financial stake in his or...

Using a home equity line of credit (HELOC)

Wed, 01 Jul 2009 21:24:25 GMT

When it comes to a HELOC, make sure you know the basics. What is a home equity line of credit? A home equity line of credit (HELOC) is a revolving line of credit based on your equity -- the part of your home that you actually own. As you make your monthly ...

Use a home equity loan for debt consolidation

Wed, 01 Jul 2009 21:24:25 GMT

Save money in interest, and make fewer payments each month. If you are drowning in debt, using your home equity for debt consolidation can be the life preserver that you so desperately need. Understanding how to use your home equity for debt consolidation can...

Should you use your home equity to consolidate debt?

Wed, 01 Jul 2009 21:24:25 GMT

Consider this move carefully before taking out a home equity loan or line of credit. Using home equity to consolidate debt can be a good option. However, you need to carefully consider the pros and cons to know whether this is right for you. What is home equity? Home equity is the p...

Should you take out a home equity loan when the housing market is slowing down?

Wed, 01 Jul 2009 21:24:25 GMT

Maybe. But, be smart about borrowing in case your home's value drops. The housing market is slowing in many areas of the country -- a development that could influence the value of your home. This slowdown can come into play if you’re considering getting a home equity l...

Move vs. renovate with a home equity loan

Wed, 01 Jul 2009 21:24:25 GMT

If you're considering buying a bigger home, give renovating your current home some thought before making up your mind to move. Are you finding your current home too small? Considering moving to a bigger place? Before you put your house on the block, consider whether it might be better to use a home equity loan to renovate yo...

Is home equity part of your financial plan?

Wed, 01 Jul 2009 21:24:25 GMT

Your home is likely your most valuable asset. If used smartly, your home equity can be part of your lifelong financial plan. If you’re like most Americans, your home is your most valuable asset. Your home can also help ensure you have the equity you need to accomplish your financial goals. Here are three examples of the ro...

How to use your home equity wisely

Wed, 01 Jul 2009 21:24:25 GMT

You can benefit from drawing on your home equity, but it's important to do it the right way. With their low interest rates, home equity loans and lines of credit can be an effective way to borrow money. Home equity loans or lines of credit of up to $100,000 often offer the ...

Home Equity Loan - Use it to save money

Wed, 01 Jul 2009 21:24:24 GMT

A home equity loan can help you save money. Using a home equity loan can actually save you money. Whether you are considering renovating your home, buying a car or a variety of other goals, a home equity loan can help you accomplish your objec...

Giving your kids a start with a home equity loan

Wed, 01 Jul 2009 21:24:24 GMT

Drawing on your home's equity can be a great way to give your kids a financial boost. But don't forget your own future needs. Your child got into the college of her dreams, complete with a great dorm room. But how is her college education experience treating you? The cost of sending a child to school can be an overwhelming ...

Financing your home remodeling project

Wed, 01 Jul 2009 21:24:24 GMT

Remodeling your home can be an excellent way to increase its resale value. But it's important to choose the right type of financing. It’s exciting to remodel your home. Plus, surveys indicate that updating your kitchen and/or bathroom can often pay-off handsomely at resale time. There are also many available choices for financing ...

Does it make sense to use your home equity to consolidate debt?

Wed, 01 Jul 2009 21:24:24 GMT

If you're trying to decide whether or not to use a home equity loan or line of credit to consolidate your debt then consider the following before you decide. When you have too much debt, it can be hard to know how to find relief. Using your home equity -- the part of your home that you own -- can be a helpful way to get out of debt. Equity builds when yo...

Dealing with unexpected expenses

Wed, 01 Jul 2009 21:24:24 GMT

Knowing your options for covering unexpected expenses can keep you from falling behind on your bills while you are facing a tough time. At some point or another, everyone faces a financial emergency. There are job losses, medical bills, lay offs and car accidents, all of which can put a strain on your finances. Here are ways to cover...

Buying a car with a home equity loan

Wed, 01 Jul 2009 21:24:24 GMT

Consider the benefits and risks before choosing a home equity loan to buy your new car. A home equity loan or home equity line of credit (HELOC) is a popular way to pay for a home renovation. But these low-interest loans may also be a good choice for a major purchase, such as a new vehi...

Ask an expert: Using home equity to pay off debt

Wed, 01 Jul 2009 21:24:24 GMT

Q: If I get a home equity loan to consolidate my debts, can I still sell my house? A: A home equity loan works much like a first mortgage -- the money you borrow is secured using your house as collateral. Just as you can sell a house even if you’re carrying a mortgage, you can also...

What you should know about a home equity loan

Wed, 01 Jul 2009 21:24:02 GMT

Ask these questions before you commit to a home equity loan or line of credit. If you have already determined that a home equity loan is in your best interest, make sure you ask yourself these important questions before you sign. What is the interest rate, and will it change o...

Ways to use a home equity loan

Wed, 01 Jul 2009 21:24:02 GMT

Considering a home equity loan? Here are some smart ways of using it. A home equity loan enables you to access the equity in what is probably your greatest asset -- your home. If you have been paying on your mortgage for several years, and if real estate in your area h...

Is a home equity loan right for you?

Wed, 01 Jul 2009 21:24:02 GMT

Understand home equity loans - how they work, their limits, and good uses. It’s always a good idea to save for major purchases, but sometimes you can’t. In that case, a home equity loan is worth its weight in gold. A home equity loan is a loan that is secured by the equity ...

How to turn home equity into cash

Wed, 01 Jul 2009 21:24:02 GMT

Homeowners can tap the equity in their home to meet other financial needs. Perhaps you'd like to remodel your home, fund your child's education, or buy a new car. Or maybe you need money to consolidate your debts, recover from a financial setback or respond to a family emer...

How to determine home market value

Wed, 01 Jul 2009 21:24:02 GMT

Here are some ways to get real about how much your home is worth in today's market. Home values are sliding in much of the country, as a result of the declining real-estate market and credit crunch. Yet research indicates most people still think their home is worth more than it is. ...

Home equity loans and interest rates

Wed, 01 Jul 2009 21:24:02 GMT

Home equity loans can help you consolidate high-interest debt and pay it off at a lower rate. If much of your wealth is tied up in your house, a home equity loan can enable you to use some of that capital to take care of your immediate needs, without having to sell your home. Those needs may...

Calculating your home equity

Fri, 05 Jun 2009 21:09:17 GMT

Q: I've been hearing a lot lately about the benefits of home equity loans. But how do I know how much equity I have in my home? A: Calculating equity is simple: you take the market value of your home and subtract any outstanding mortgages or liens. So if you have a $100,000 home and have $60,000 left to repay on your mortgage...