Posts Tagged ‘home equity loans’
What are the Advantages of a Home Equity Loan?
What Does the Word “Equity” Mean? Equity is the difference between your home’s current appraised value and your mortgage balance. For example, if your home appraises for $200,000, and you owe $100,000, your equity is 50 percent. You can also think of it this way: equity is a term used to refer to the market…Read More
What are the Disadvantages of a Home Equity Loan?
A home equity loan is a type of loan that enables homeowners to borrow money by using their home as collateral. The amount of the loan a borrower is eligible for is determined by the difference between your home’s market value and the remaining mortgage balance. It can be a viable option for people to…Read More