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Posts about Home Equity (2)

A couple takes a break from completing home renovations

What is a Home Equity Loan?

By: American Heritage 01.07.21 2 minute read Home Equity

From home renovations to high interest debts, you may find yourself at a juncture where you’re in need of cash. If you can relate and are a homeowner, the following options may be worth exploring as you weigh your financial decisions: Home equity loan Home equity line of credit (HELOC) As part of a 2-part blog series, and in an effort to help our members better understand both options, our team is reviewing the differences between a home equity loan and a home equity line of credit—both of which are potential options for those wanting to borrow on their home's equity.

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a publication about a HELOC sits among pens, a calculator, eyeglasses, a notebook, and cash

What is a Home Equity Line of Credit?

By: American Heritage 01.07.21 3 minute read Home Equity

Meet Ashley. Ashley is a 20-something year old homeowner who is interested in a home renovation project, and also has some debt that she may need to consolidate at some point in the future. She’s owned her home for a few years and has built up a nice bit of equity. Based on Ashley’s situation, she has a few financial options that she can explore. Two options at the top of the list? A home equity loan and a home equity line of credit, also known as HELOC. If you can relate to Ashley, continue reading below to see if one of these options is right for you.

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A Couple looking into Refinancing their home

Should You Refinance Your Home? Consider These 4 Factors.

By: American Heritage 05.07.20 3 minute read Home Equity

Right now, you’re probably looking for ways to boost your financial security, such as by lowering your bills or building up your savings. You’re not alone. Many homeowners are doing exactly that by refinancing their home to take advantage of today’s low mortgage rates. To see if refinancing is right for you, it’s important to understand why people choose to refinance and what makes someone a good candidate for a refinance mortgage. Ask yourself the following questions:

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5 Best Ways to Use the Equity in Your Home

By: American Heritage 03.05.20 3 minute read Home Equity

Sometimes, big plans come with a big price tag. Tapping the equity in your home can provide the funds you want, but is this always the smartest way to pay? It all depends on your goals. Today we’re looking at some of the best ways that homeowners put their home equity to work. But before we look at these examples, let’s start with the basics:

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A father works on a DIY home construction project with his young son

Home Improvements: DIY or Pay a Pro?

By: American Heritage 04.18.19 3 minute read Home Equity

Most people know, or can learn, how to do some basic home improvements and repairs. But unless you work as a contractor AND have tons of spare time, you probably will not be able to tackle every project yourself. The line between which renovations you can do and which you should pay a professional to do is different for different people, but here are some general guidelines – along with information about the best way to finance your next major home improvements.

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Home Renovation Costs: How to be Smart with Your Tax Refund

By: American Heritage 03.30.19 2 minute read Tax Filing Home Equity

Whether you receive a large or small refund check this tax season, a check from Uncle Sam is an added bonus to the beginning of spring and new possibilities. One fun way to spend your tax refund check? Home renovations!

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Home Equity Loan vs. Home Equity Line of Credit (HELOC)

By: American Heritage 03.19.19 4 minute read Home Equity

From home renovations to high interest debts, you may find yourself at a juncture where you’re in need of cash. If you can relate and are a homeowner, the following loan options may be worth exploring as you weigh your financial decisions: Home equity loan Home equity line of credit (HELOC) In an effort to help our members better understand both options, our team is reviewing the differences between a home equity loan and a home equity line of credit—both of which are potential options for those wanting to borrow on their home equity.

READ THE ARTICLE