home improvements: Your Home's Equity Could Be the Answer
- 09/15/17 11:21 AM
Need some money? Want lower interest rates? Then a home equity line of credit or HELOC may be the answer for you. It is a mortgage loan that homeowners can use as-needed. Any lender like a bank will review and approve it for a specific amount based on the amount of equity you have available on your home. You will need to complete some paperwork to get the loan authorized.
This line of credit will be available to you and you will pay no interest until you start spending funds. When you pay back the amount spent, the full original amount of … (5 comments)
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home improvements: Some improvements keep on taking
- 05/14/16 02:42 AM
The time has come for you to add that new pool to your backyard. But wait, the pool is great and your home value will go up but so will your maintenance costs, your utilities and your property taxes.
However you will benefit with an increase in your equity due to appreciation of your home. But will the increase in your property taxes offset the bump in equity? Your property is assessed using fair market value to calculate your taxes based on what the tax rate is for the year.
You can also increase your home’s value with capital improvements. Smaller improvements might … (0 comments)
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Need some money? Want lower interest rates? Then a home equity line of credit or HELOC may be the answer for you. It is a mortgage loan that homeowners can use as-needed. Any lender like a bank will review and approve it for a specific amount based on the amount of equity you have available on your home. You will need to complete some paperwork to get the loan authorized.
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