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. Both act as second mortgages, using your home as collateral, and may offer tax deductions if the funds are used for substantial repairs or upgrades. Home equity loan: What is it?

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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. You might want to consider financing the work if that option is available to you.

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Savings Corner

APRIL 4, 2024

While the forecast doesn’t call for massive savings — for HE loans, anyway — any reduction in borrowing costs saves prospective borrowers some cash, and encourages them to turn to this financing tool. What are average home equity loan interest rates? There are no restrictions on how you purpose your home equity loan.

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Savings Corner

APRIL 4, 2024

This type of mortgage allows you to withdraw your home’s equity and receive monthly payments from your lender. You can use these funds as retirement income, to pay medical bills or for any other goal. How to refinance your mortgage What happens when you refinance your home or rental property ?

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Savings Corner

DECEMBER 27, 2023

Lenders typically like to see that you can cover your monthly bills, including any other loan or credit card payments, and have money left over after your new personal loan payment. Buy now, pay later” is an at-checkout financing option that lets you split a purchase into smaller installments. Fixed, predictable payments.

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