Home Equity

Should Retirees Use Their Home to Pay Bills?
4.6 7223

Should Retirees Use Their Home to Pay Bills?

Retirement planning involves years of saving, but what happens if your nest egg falls short when the time comes? Your home could be a valuable asset, providing a means to cover medical bills, urgent repairs, or other expenses without depleting your savings. Indeed, your home’s value has never been more potent. With soaring home prices, […]

Do You Lose Home Equity When You Refinance?
4.3 752

Do You Lose Home Equity When You Refinance?

Refinancing your mortgage doesn’t necessarily mean sacrificing home equity. On the contrary, the primary aim of refinancing is typically to secure a new loan at reduced interest rates, facilitating easier repayments and potentially accelerating equity accumulation. Nevertheless, refinancing can potentially lead to long-term financial losses if approached without caution, and the process itself can impact […]

Is a HELOC Available for an Investment Property?
4.6 1036

Is a HELOC Available for an Investment Property?

A home equity line of credit (HELOC) on an investment property involves borrowing against real estate that generates income or financial returns. Unlike borrowing against a primary residence, where you reside, a HELOC on an investment property uses non-primary residential property as collateral for borrowing funds. Although there has been increased interest in HELOCs in […]

How to Increase Your Home’s Value
4.8 1142

How to Increase Your Home’s Value

The value of your home can fluctuate due to various factors, some of which are beyond your influence, such as the condition of your local housing market. However, there are strategic steps you can take to positively impact its value. Certain home improvements have the potential to substantially increase the value of your property, thereby […]

How to Get Funding for a Garage or Other Outbuilding
4.8 722

How to Get Funding for a Garage or Other Outbuilding

Detached structures can be a fantastic way to add both space and value to your home. Whether it’s a workshop, garage, or accessory dwelling unit (ADU), having an outbuilding on your property can significantly enhance its worth. However, building detached structures can be costly. If you don’t have the funds to pay for the construction […]

Use Your Home to Pay Medical Bills? Should or Shouldn’t
5 596

Use Your Home to Pay Medical Bills? Should or Shouldn’t

Medical debt has become a significant financial burden for many Americans. According to data from the Kaiser Family Foundation (KFF), an estimated 14 million U.S. adults, or 6% of the population, owe over $1,000 in medical debt. Furthermore, around 3 million Americans have accumulated more than $10,000 in medical debt. For those struggling under the […]

8 Ways to Build Equity in Your Home in 2024
4.9 2034

8 Ways to Build Equity in Your Home in 2024

Home equity is a powerful asset and a key aspect of homeownership. It represents the portion of your home that you fully own, free from any financing obligations. As you pay down your mortgage and your property value appreciates, your equity increases, enhancing your home’s value. Whether you’re a new homeowner or have owned your […]

Should I purchase a car with a home equity loan?
4.4 3849

Should I purchase a car with a home equity loan?

The most common method for purchasing a new car is through an auto loan. However, auto loans aren’t the only financing option available. Homeowners might consider leveraging their home equity to buy a car, either through a home equity loan or a HELOC (Home Equity Line of Credit). This strategy carries significant financial implications compared […]

1