Home Equity Articles

What’s the Difference between Equity Takeout and Refinance?

When you own a home, you are not only making an investment in your own future, you are also stuffing money into a giant savings back that is there if you need it. If you’ve owned your own home and lived in for more than a few years, you’ve probably become familiar with terms like ...
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How to find out how much your house worth now

Getting the Most out of your Home Appraisal is essential when answering the question, "How much my house is worth now ". So, you've put your house on the market, a buyer has come through and made an offer. You listed the house at $625,000, the buyer offered $565,000, so you settled on $599,000. The buyer's ...
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Creditor Debt vs Home Equity – A Balancing Act

If you're like most people, the biggest check you write every month is for your mortgage payment. Each month, some of that money contributes to your equity in the property, and as time goes by, more and more of that house is actually yours. However, if you have fallen into a situation where you have ...
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Home Equity Line of Credit Canada

If you have made payments on your mortgage for more than a couple of years, it is likely that you have built up a little bit of equity in your house. Making the minimum payments doesn't do much for you in the way of building equity in the first few years you are in a ...
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How to calculate the equity in your home

Calculating how much equity you have in your home at any given time is important for homeowners at every stage of the loan repayment process. Not a lot of people understand that equity does not increase at a linear rate; in other words, with every monthly payment. While each payment does reduce both your interest ...
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Equity Mortgage Solutions

If your seeking Equity Mortgage Solutions, there are many options. Your house is more than likely your biggest asset. After you have spent some years paying the mortgage off, it can become one of your strongest tools for financial freedom because the equity you have built up allows you to take advantage of a larger ...
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Home equity loan non owner occupied

Getting a Home Equity Loan on (or for) a Non Owner Occupied Property So you live in a property and want to buy a larger one, but you want to use your existing property as a rental. This is common for people who buy a townhouse when they are single but then want to graduate ...
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The Basics about Mortgage Cash Out Refinancing

Over the life of a mortgage loan, a homeowner makes hundreds of monthly payments to get a clear title to his house -- if you have a 25-year amortization on your loan, you'll make 300 payments. This is a lot of money that loses its liquidity which, for many people, does not make financial sense ...
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Second Mortgage and Home Equity Loan

If you are a homeowner with some equity in your house, and you need some extra money, a second mortgage is often the answer. A second mortgage serves a number of different purposes, but understanding what they are and how they work is an important part of managing your money. How Do Second Mortgages Work ...
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Can You Take Equity out of Your Home with Bad Credit?

You might think that there aren’t many people who have a lot of equity in their home – and also have credit issues. After all, you have to get approved for a mortgage and then make regular payments on that mortgage for the better part of a decade to build up the level of equity ...
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How to Take Equity out of Investment Property

First of all, the answer to the question “Can you take equity out of a rental property?” is “Yes.” For some people, it’s the best way to get access to cash when they need it. For other people, there are better ways to build some liquidity. Let’s take a look at the ins and outs ...
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When the Economy Turns You Cash Poor but House Rich

Cash Poor but House Rich Due to The Economic Downturn So you've done all the right things with your finances. You built a successful career in the oil and gas exploration industry – or such related industries as trucking, restaurants, or welding/pipefitting in Alberta. You've raised a family and are about to become a proud ...
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Daniel K. Akowuah | Mortgage Professional / DLG Underwriter
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