home equity: How to Help a Client Who Wants to Use Home Equity for a Second Property - 12/27/19 06:20 AM
If your client is looking to finance a second home, they are in good company. According to data from the National Association of Realtors, 72% of vacation homes are bought with a mortgage. One alternative to a traditional mortgage that some borrowers consider is a home equity loan or home equity line of credit (HELOC).
But is tapping into home equity to finance a vacation home or an investment property a good idea?
Find out how the second home will be usedOne factor to consider is the purpose of the second home. This can inform whether or not using a home equity loan … (1 comments)

home equity: What Are Your Home Equity Options When You Have Poor Credit? - 03/26/19 12:10 PM
What Do Lenders Look For in Home Equity Applications?
If you're facing financial strain in your life, a home equity loan might be the answer to your credit issues. Not only does settling your high-interest debt with a low rate home equity loan cut down on your liability, but it diversifies your credit mix and can improve your credit score to boot.
While you may face higher interest rates and lower loan limits with a damaged credit profile, it doesn't necessarily preclude you from obtaining financing. In most cases, home equity loans and HELOCs will still prove to be significantly cheaper than alternative sources of … (2 comments)