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A home loan, otherwise known as a mortgage, enables you to purchase a house without paying the full price out of pocket at the time of the purchase. For most people, buying a home is the biggest financial transaction in their lifetime. For that reason alone, if you’re in the market for a new home, it’s best to learn all you can about home loans so...
There are several ways to fund a home renovation - but a home equity loan is not always top of mind - but it might just make sense for you. Let's take a deeper look and answer some of the most popular questions out there about home equity loans.
A home equity line of credit, or HELOC, is typically a cheap source of credit, with current rates averaging less than 5%. But borrowing against your home equity can be risky. Rates are typically variable, and payments can balloon after the initial interest-only period ends. Less equity also means less cushion if your home value drops, leaving you...
