Instant Access To Your Home Equity With HELOCs - Today's Mortgage & Real Estate News. https://growella.com/mortgage/ ► Today's mortgage and real estate news: (1) Mortgage rates unexpectedly spike, changing the math of How Much Home Can I Afford for home buyers nationwide; (2) An update on today's mortgage rates for conforming, USDA, VA, jumbo, and FHA loans; (3) Using a home equity line of credit as an emergency fund and immediate source of cash.
FROM THIS EPISODE
A home equity line of credit is a special type of mortgage where lenders make cash available to homeowners up to a maximum dollar amount, that can be accessed and paid back at a homeowner's discretion, without messing with or changing the existing mortgage that's already in place. HELOCs work like credit cards. You get a maximum credit limit, it's up to you what you spend, and you get monthly statements for whatever amount you're currently borrowing. If you're balance is something, you'll pay interest. If you're balance is zero, you'll pay no interest. HELOCs work great for high-credit home buyers who want to minimize a cash down payment and for existing homeowners with home improvement projects they'd rather not pay with savings. But, the best fit for a home equity line of credit, and why every homeowner should at least consider one, is that HELOCs offer on-demand conversion of home equity into cash, which can then be used for anything, at any time.
Jump to the following:
(00:10) Mortgage rates unexpected rise, affecting home buyers
(01:16) Today's mortgage rates and the 5-day trend
(01:45) Using a home equity line of credit as an emergency fund
WANT A FREE MORTGAGE RATE QUOTE?
VISIT GROWELLA.com FOR MORE REAL ESTATE AND MORTGAGE NEWS & TIPS
SUBSCRIBE NOW FOR NEWS, HOW-TO VIDEOS, STORIES, AND ADVICE
SUBSCRIBE TO OUR EMAIL LIST!
Instagram ► https://instagram.com/growella
Facebook ► https://facebook.com/growella
Twitter ► https://twitter.com/growelladotcom
Linkedin ► https://www.linkedin.com/company/growella/
Pinterest ► https://www.pinterest.com/growella
Growella ► https://www.growella.com
NEWS SHOW SPONSORSHIP OPPORTUNITIES
Email us at email@example.com
SHOW HOST: Dan Green
PRODUCER: Daniel Parish
Tags: Instant Access To Your Home Equity With HELOCs - Today's Mortgage & Real Estate News, Mortgage News, how to use heloc, home equity line of credit, real estate, using heloc to pay off mortgage, heloc vs mortgage, how heloc works, mortgage explained, what is mortgage, mortgage process, mortgage rates, heloc, heloc explained, mortgage, home equity, how to use home equity, emergency fund, personal finance, home equity lines of credit, interest rates, 30 year fixed, mortgage rate forecast, budget, 30 year mortgage rates