Home Equity Line of Credit Rates

Must Read

Tally (App Basics)

How many times have you wanted to count something and felt that your fingers and concentration alone were not...

Black Friday Shopping – How to Make Thousands in One Day

Black Friday is a goldmine for eBay resellers. On one single day there are more profitable items for sale...

Pell Grants For Single Mothers – How to Get a College Degree Without a Student Loan

The Pell Grant is a great source of educational funding that all students should qualify for. The problem is...

Your home is an investment and should be treated as such. Extra cash can be needed for any number of reasons throughout your life and your home provides an excellent way to get it. Home equity lines of credit are a low interest loan that you can secure through the built up equity in your residence. The loans can be used for anything from home improvement, to debt consolidation, to opening a new business. But be aware of the risks otherwise you can lose everything.Home equity lines of credit should be applied for when you do not have a need to spend the money. The reason is, because if you absolutely need the money you may end up making a poor financial decision and not shop for the best rate possible. Equity rates can be as low as 3.25% to as high as 14% so be careful before signing on the dotted line. Generally speaking you do not want a home equity line that has a rate any higher than 9%. The reason being if you use that money you do not want to have to payback an excessive amount to interest.You also must be careful in the way you use your home equity line of credit. If you default on the loan, in most cases, it is the same as defaulting on your mortgage, which means nonpayment can result in foreclosure. Home equity loans should most often be used for upgrades to homes. The credit rate of the loan will make it a smarter choice than using a credit card at a double digit interest rate. Not to mention that once the loan is paid off the money is there to be used again in most cases.


Please enter your comment!
Please enter your name here

Latest News

Top 10 Provinces of Thailand Not to be missed for Travel

10 SuratthaniThe source of the proverbial Chaiya salted egg. Surat Thani is a province with many attractions,...

Underlight As Accent, For Power and The Main Light for Photography

Underlighting, in which fill or accent light comes from under the topic, is not widely used technique in the traditional Portraits, even though it will have...

How To Fix Overexposure As A Creative Tool, The Complete Guide

As an creative tool, overexposure is sort of underrated. What I’m close to propose could be a deliberate and well thought out technique for...

7D Mark II is Canon’s best DSLR cameras without full-frame sensor.

The expected long-awaited Canon EOS 7D Mark II are shipping in November for $ 1,799 without a lens. With a higher price tag, you...

Low key photography and How to isolate your subject.

Low key photography doesn’t depend on underexposure to make its point; the key to low key is that the majority of tones, even correctly...

More Articles Like This