Homeowner's Guide to Home Equity Loans and Home Equity Lines of Credit
A Homeowner's Guide to Home Equity Loans and Home Equity Lines of Credit
Considering consolidating your debts into "one easy monthly payment?" Advertisements for "fast closings" and "low payments" starting to sound attractive? Maybe you would simply like to re-do the kitchen or bathroom... and those promotional offers for "Money for home improvements!" in the mail are starting to look pretty good.
"Home Equity Loans and Home Equity Lines of Credit," the latest booklet in HSH's "A Homeowner's Guide To" series, can help you understand the ins and outs of borrowing the equity out of your home. This objective 12-page booklet will tutor you as to how each product works and the advantages and drawbacks to each.
If you're shopping for a Home Equity Line of Credit (HELOC) you should consider one of our local surveys for your market.
A Homeowner's Guide to Home Equity Loans and Lines of Credit covers
- the difference between a Loan and a Line of Credit;
- how to estimate your available equity;
- typical methods of accessing your credit line;
- advance and repayment terms;
- how home equity loans and lines are 'priced';
- interest rates floors and ceilings;
- fixed-rate conversion options;
- common fees and charges;
- tax deductibility of your equity loan or line;
- and the questions you must ask when shopping.
If you're a thinking of tapping your equity, "A Homeowner's Guide to Home Equity Loans and Home Equity Lines of Credit " is for you.
This booklet is also available in combination with our Homebuyers Mortgage Kit for an additional price of $2.
If you prefer, you can send a money order (sorry, no personal checks) to this address:
51 Route 23 South
Riverdale, NJ 07457
Accredited media wishing to preview a copy should request a copy. Please include the name of your media outlet, your office address, and your e-mail address.
The booklets in the "A Homeowner's Guide To" series include:
More help from HSH.com
10 metros where a home costs about $1,000/monthHSH.com identifies 10 metro areas where you can afford the principal, interest, taxes and insurance payments on a median-priced home for only around $1,000 per month.
Home price recovery index: Which metros have improved the most, least?Have home prices in your area fully recovered from the declines suffered during the Great Recession, or are they still struggling to make it back to the peaks they reached before the crisis?
How do I know refinancing will be affordable?After to determine the goal of your refinance, deciding whether that goal makes sense (or not), given your personal situation, depends on a combination of factors.
The salary you must earn to buy a home in 27 metrosHere’s how much salary you would need to earn in order to afford the median-priced home in your city.
VA Funding Fee: 5 facts you need to knowOne slight drawback of securing a VA loan is that borrowers often have to pay a fee, known as the “VA Funding Fee.” Here are five facts you need to know about the VA Funding Fee and how it works.