Home Equity Line

Home Equity Line

Same as HELOC.

References in periodicals archive ?
Quorum Federal Credit Union, a full-service financial institution serving over 75,000 members across all 50 states, has expanded its popular Home Equity Line of Credit products to include investment properties, the company said.
M2 EQUITYBITES-July 26, 2019-Quorum offers home equity line of credit for investment properties
Global Banking News-July 26, 2019-Quorum offers home equity line of credit for investment properties
A typical home equity line of credit might have an interest rate that's three-quarters of a percent to 1.5 percentage points above the current mortgage interest rate, depending on individual credit ratings, Vick said.
Tavant, a leading digital products, and solutions company for the consumer lending industry, today announced that it has expanded its V?LOX platform for the lending industrys home equity line of business.
In that case, they should talk to a credit counselor and a bankruptcy attorney to better understand their options.<br />OPEN A HOME EQUITY LINE OF CREDIT<br />A home equity line of credit is like a credit card that allows you to borrow against the value of your home.
It's worth doing the math to find out if a mortgage refinance, home equity line of credit, or reverse mortgage loan can help increase financial security during retirement."<br />Research from theOhio State Universityshows that reverse mortgage borrowers often use loan proceeds to pay off an existing mortgage, and nearly a third use funds to pay down other debt, such as credit card balances or personal loans.
There were increases in mortgage, student, auto, and credit card debt (increasing by 1.6%, 1.5%, 0.7% and 3.2% respectively) and another modest decline in home equity line of credit (HELOC) balances (decreasing by 0.9%).
Raddon found consumers are more reluctant to select the traditional variable rate home equity line of credit and nearly a third of consumers expressed interest in the newer hybrid equity line/loan.
Second, loan modifications lead to a slight increase in borrowers' debts, primarily on home equity line of credit (HELOC) accounts and auto loans.
Fannie Mae on March 29 introduced HomeStyle Energy mortgages, a loan product that allows borrowers to finance energy-efficient upgrades when purchasing or refinancing a home and eliminates the need for a subordinate lien, a home equity line of credit, a Property Assessed Clean Energy loan or an unsecured loan.
In some states, new home equity line borrowing is exploding: up 169 percent in Wyoming, 85 percent in Oklahoma, 79 percent in Arizona, 53 percent in Florida and 52 percent in Ohio.

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