Katherine Watt is a CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa cum laude from Colgate University with a bachelor's degree in English literature....
A home equity loan is not the right choice for every borrower. Depending on what you need the money for, one of these options may be a better fit: Home equity line of credit (HELOC) Home equity loans and home equity lines of credit (HELOCs) are both loans backed by the equity in ...
Home equity loans are just one way to access your home's untapped equity. If you're considering borrowing against your property, you might also consider a home equity line of credit, or HELOC, and cash-out mortgage refinancing. Here's how your options compare: Home Equity Loans HELOCs Ca...
Additional requirements:Must be a member of the credit union. Perks:Introductory rate for the first six months of your loan term. Spring EQ Good online application user experience Spring EQoperates in 38 states and offers home equity loans, HELOCs and interest-only HELOCs. While Spring EQ does...
This can include paying off debt in full, making on-time payments and not applying for any other credit that could result in a hard credit check — and reduction in your credit score. The bottom line Home equity loans offer homeowners a smart and cost-effective way to finance major ...
Home equity loans are just one way to access your home's untapped equity. If you're considering borrowing against your property, you might also consider a home equity line of credit, or HELOC, and cash-out mortgage refinancing. Here's how your options compare: Home Equity Loans HELOCs Ca...
This type of loan can be particularly helpful for seniors looking to improve their financial situation without selling their home. However, reverse mortgages aren’t for everyone. A home equity line of credit (HELOC), home equity loan, or cash-out refinance are often better choices to tap your...
Here are some of the key things to know when you're comparing home equity loans, HELOCs and cash-out refinances. Home equity line of credit, or HELOC Gives you a line of credit that you borrow against as you need it, rather than requiring you to figure out an exact sum beforeha...
There are two types of consumer equity financing: a home equity loan or a home equity line of credit. Conceptually, they are reasonably similar. Both tap into your home equity as security for the loan. Home equity loans put the full borrowed amount at your disposal immediately. The amount...
For those wanting to grow older in their own homes, HELOCs (home equity lines of credit), home improvement loans and home equity loans may be a good way to finance the necessary renovations. If you’re moving in with a loved one, consider a personal loan or low-interest credit card to...