Prairie Eco-Thrifter
JUNE 19, 2012
Every homeowner knows that renovations and home repairs are necessary to keep the home in tiptop shape. While this reality is an accepted fact, some people do not want to have large expenses when it comes to home maintenance and renovation. Here are techniques you can use to minimize your spending but still renovate your home.
Savings Corner
APRIL 4, 2024
Cash-out refinance example Let’s say you still owe $100,000 on your home, and it’s currently worth $400,000. So, for this example, that means you need to keep $80,000 in equity, leaving you with up to $220,000 in tappable equity. For a multifamily home, for example, you can only borrow up to 75 percent. There are no limitations.
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Savings Corner
APRIL 4, 2024
You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your own business … or almost anything else. Lenders consider it when approving you for a mortgage or other home-based financing. Using our example above, that’s 0.8 Home equity can be a valuable resource for homeowners.
Savings Corner
DECEMBER 24, 2023
Key takeaways A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Common reasons include paying off debt, financing a large purchase such as a vehicle or a boat, or covering the cost of a major expense like a wedding or a home renovation.
Savings Corner
APRIL 4, 2024
If you qualify for the best rates, a HELOC can be a less expensive way to consolidate debt or finance a home renovation. Possible tax-deductible interest Even after the Tax Cuts and Jobs Act of 2017, you can still deduct interest paid on a HELOC if you use the money for home renovations. This helps keep your payments manageable.
Family Balance Sheet
JUNE 8, 2018
A budget could help you avoid late and insufficient funds fees, find money for an upcoming trip or expense, and ease a disagreement over finances in a marriage. For example, if your paychecks net to $3000 a month, then you plan the spending for $3000, and not a single dollar over or under. We work through these steps together.
Savings Corner
APRIL 4, 2024
Key takeaways Home equity loans and HELOCs are both financing tools that allow you to borrow against your ownership stake in your home. Home equity lines of credit (HELOCs) and home equity loans are two similar finance tools — methods of borrowing money against the ownership stake you have in your home. Home equity loan: What is it?
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