Can I Use Equity in Present Home As Down Payment for Second Home?

Answer Homeowners buying a second property or new home can extract funds from equity in their current home for use as a down payment. People who have an existing home equity line of credit, or HELOC, have... Read More »

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How is a Monthly Payment Determined on a Home Equity Loan?

Home equity loans allow homeowners to borrow money with their home as collateral for the lender. These loans offer relatively low interest rates and fixed monthly payments. Calculate the monthly pa... Read More »

What are home equity line of credit payment terms?

A home equity line of credit is one way to get money out of the equity you have established in your home. Terms for home equity lines of credit will vary from lender to lender, but some terms are c... Read More »

What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »

Is a home equity loan considered a second home loan?

A home equity loan is a secondary mortgage against the equity in your home. The terms of the loan, such as the interest rate and the length of the loan, are normally different from your primary hom... Read More »