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. It could deny your request to cancel your PMI when you hit that 80 percent LTV threshold, and can insist that you wait until the LTV drops two additional percentage points.
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. Another point of flexibility: repayment. 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.
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