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How Does a Home Equity Line of Credit Work?

Often referred to as HELOCs, home equity lines of credit are essentially second mortgages. They allow homeowners to borrow most of the equity they’ve built up in their home without having to sell that home or alter the terms of the mortgage. Once your lender approves...
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What Is a Home Equity Line of Credit?

A home equity line of credit – a HELOC – is perhaps one of the most misunderstood financial instruments. Is it a kind of mortgage? Is it a credit account? What’s the difference between a HELOC and a home equity loan, for example, versus a credit card account? How can...
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Best Home Equity Lines Of Credit For 2017

Home equity lines of credit are somewhat similar to both traditional loans and credit cards. Borrowers have a longer repayment period and lower interest rates as they would with a traditional bank loan. However, a HELOC is set up as a maximum approval amount, and the...
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Home Equity Line of Credit

If you want extra money to cover an unexpected expense, then you might not know where to turn when you need a solution. Car repairs, late fees and other issues can present themselves at the worst possible time, and not having the available funds to address the...
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Home Equity: Lines of Credit vs. Loans

If you own a home and are looking for a way to pay for home improvement projects, a college education for your child or other large expenses, you might consider taking advantage of the equity in your home. There are two types of financial products that allow you to do...
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Home Equity Line of Credit by States

Home Equity Line of Credit in Ohio

The Ohio housing market has grown over the past decade and has allowed homeowners to build solid equity in their properties as a result. The average home sells for roughly $250,000 and appreciation has gone up tremendously over the past few years. Over 60 percent of... read more

Home Equity Line of Credit in New Mexico

Home equity line of credit (HELOC) is a form of a loan that allows one to borrow up to a preset amount within an agreed time and uses the home as collateral. A home may be the most valuable asset among the borrower’s items, and they may use its credit lines to... read more

Home Equity Line of Credit in Nevada

Home to Las Vegas, Nevada is one of the most sought after states in the U.S. Despite the fact that only two and a half million people live here year round, millions of people travel to Nevada each year because of its tourist spots and luxuries. The average home in... read more

Home Equity Line of Credit in Montana

While Montana might not be the most populated state in America with only one million people living state-wide, it is one of the most appreciation-increasing areas of the country. Most homes in Montana sell for roughly $250,000 and appreciation values are on the rise... read more

Home Equity Line of Credit in Nebraska

There are almost two million people living in Nebraska. Over half of all residents living here own their own properties. Most homes sell for roughly $150,000, making the state one of the most affordable in the country. Because of the large number of homeowners,... read more

Home Equity Line of Credit in New Jersey

New Jersey may be a small state, but there are millions of people who call it home. The current housing market in New Jersey is booming, with over 200,000 houses selling each year. The average home price for the state is currently $300,000 since appreciation values... read more

Home Equity Line of Credit in New Hampshire

New Hampshire is a small state that is home to only one and a half million people. While it may be the one of the more progressive states in America, it tends to be one of the most expensive. The average home in New Hampshire sells for approximately $260,000. The cost... read more

Home Equity Line of Credit Missouri

Many Missouri residents regularly take advantage of the benefits of home ownership. The U.S. Census Bureau indicates that approximately 67 percent of residents own their own homes in Missouri. If you are included in this group, you may use tax deductions on mortgage... read more

Home Equity Line of Credit in Mississippi

The HELOC (home equity line of credit) works as a second mortgage that offers you access to a substantial amount of money. Often this amount can go up to 85 % of the value of your home. The remaining balance is adjusted as per your ability to repay and credit... read more

Home Equity Line of Credit in Massachusetts

When you originally purchased your home in Massachusetts, you may have made a sizable down payment. Your down payment established equity in your home. Over time, your home equity may have grown considerably because of your regular monthly mortgage payments as well as... read more

Home Equity Line of Credit in Michigan

With the way economy and the housing market has been up and down the past few years, homeowners are taking advantage of the current increase by not just buying homes but utilizing their homes to obtain home equity lines of credit. This is particularly the case in the... read more

Home Equity Line of Credit in Minnesota

The year 2016 saw the Housing Market in Minnesota indicate a considerably healthy status with a rating of 5.8 on a scale of 1-10 according to Zillow. Currently, property values stand at $223,016 with a median cost of $183,000. Experts in the real estate market have... read more

Home Equity Line of Credit in Kentucky

While some residents in Kentucky rent their homes, the U.S. Census Bureau states that approximately 67 percent of the state’s residents own their own homes. Tax deductions are one of the top financial beneficial associated with owning a home in Kentucky, but the... read more

Home Equity Line of Credit in Louisiana

Many Louisiana residents are proud homeowners who eagerly take full advantage of the benefits of home ownership. In fact, almost 64 percent of the state’s residents own their own homes, according to the U.S. Census Bureau. Home ownership allows you to write off your... read more

Home Equity Line of Credit in Maryland

Maryland may not be the biggest state in America, but it has a large number of residents who are proud to call it their home. The median home value in Maryland is approximately $300,000 and there are over two million homes throughout the state. Appreciation values... read more

Home Equity Line of Credit in Kansas

Kansas is home to almost three million people. While it’s not the most populated state in the country, it is one of the most affordable due to its low cost of living. The average home sells for roughly $140,000. Appreciation values have gone up tremendously over... read more

Home Equity Line of Credit in Maine

Maine is a gorgeous, yet small northeastern state that is home to over one million people. The average home in Maine sells for about $150,000, making it one of the more affordable states in America. Appreciation values have gone up tremendously in the past decade with... read more

Home Equity Line of Credit in Idaho

Idaho is a lovely state that is home to over one and a half million people. The median house value in Idaho is estimated to be $175,000. There has been an increase in the appreciation value of homes throughout the state, allowing more people to sell their properties... read more