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Getting a HELOC as a co-op owner isn’t as easy as it is for traditional homeowners. While HELOCs are a popular way to tap into your home’s equity, many lenders shy away from co-ops due to their distinct ownership model and the additional hoops to jump through. But don’t let that discourage you—several lenders are […]

A home equity line of credit (HELOC) is one of the best solutions for financing home repairs. HELOC financing is flexible and offers the lowest rates, and your repairs may be tax-deductible if you itemize deductions on your tax return.  The main downside is getting a HELOC takes time. Waiting for a home appraisal and […]

Driveway financing may be the key to repaving your driveway and increasing your home’s value. We explored several financing options to get the job done.

All-in-one home equity lines of credit (HELOCs) combine your credit line with your checking account—and sometimes even your mortgage—into one product. A key advantage is the ability to automatically transfer excess funds from your checking account to your HELOC balance for a faster payoff.  You don’t necessarily need an all-in-one HELOC to do that, though. […]

If your FICO score is between 740 and 850, give yourself a pat on the back: You have excellent credit. This tells lenders you manage your money—and your debts—responsibly. Because you’re deemed a more reliable borrower, lenders will let you borrow more for less. You’ll enjoy higher loan limits, lower interest rates, and even more […]

Many seniors use reverse mortgages to get extra money for retirement and living expenses. You usually repay the loan when you die, move out, or fail to keep up with home maintenance, taxes, and insurance. But what happens to your reverse mortgage if you need to move into a nursing home?  Below, we’ll discuss how […]

Are you considering a reverse mortgage but worried about falling victim to a scam? You’re not alone. Reverse mortgage scams are a growing concern for many older homeowners looking to access their home equity.  While not all reverse mortgage offers are fraudulent, it pays to be aware of the potential risks and red flags. By […]

Home equity lines of credit (HELOCs) let you borrow against the equity you have built in your home by extending an ongoing line of credit, similar to how you might use a credit card. However, the rate is often lower since your home equity backs it. You can use a HELOC for many purposes, such […]

Drivers may want to refinance an auto loan for several reasons—get a better interest rate, remove a cosigner, lower monthly payments, or tap into the car’s equity. While it’s possible to refinance an auto loan through a bank or dealership, credit unions can sometimes offer lower rates. However, some credit unions have membership requirements. Here’s […]

If you have fair credit—meaning, a FICO score between 580 and 669—it’s typically easier to be approved for a HELOC than an unsecured personal loan because your home is collateral, giving lenders more security if you default.  Still, a lower credit score means you’ll pay higher interest rates than borrowers with good or excellent credit, […]