Tag Archive for: home equity line of credit

Instant/Easy/Algo HELOCs; War & Inflation Up, But Rates Hold – WHY? Reason To Worry!

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We Have Push-Button Helocs Now that it is clear rates will stay “higher for longer,” I want to remind readers again that we have a Home Equity Line of Credit (HELOC) that is insanely easy to apply for. Underwriting uses an AI-based algorithm that requires no documentation or appraisals. Borrowers simply fill out an application and get an answer almost instantly. Borrowers can close and get cash in as quickly as 5 days. Borrowers can often qualify even when they have no traditional income documentation. And, applying costs nothing, so there is nothing to lose. When we first got access to these HELOCs, we were extremely skeptical (“too good to be true”). But now they are one of our most popular loan products because they definitely are true – reminding us that AI will take over all lending at some point.Read More

How To Get A HELOC in California

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HELOCs in California offer flexible access to your home’s equity with variable rates and interest-only payments during the draw period. This guide breaks down how they work, what they cost, and how to use them wisely.Read More

How to Get a HELOC in Illinois

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HELOCs in Illinois offer flexible access to your home’s equity with variable rates and interest-only payments during the draw period. This guide breaks down how they work, what they cost, and how to use them wisely.Read More

What Is a Home Equity Line of Credit?

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A home equity line of credit (HELOC) lets you tap into the value you’ve built in your home whenever you need extra funds. With a revolving credit account, you can borrow only what you use—whether you’re tackling a kitchen remodel, consolidating high-interest debt, or covering tuition costs. During the draw period, you’ll often pay interest-only, keeping initial payments low, then transition to principal and interest repayments once the draw period ends. At JVM Lending, our mortgage experts guide you through unlocking flexible, low-rate financing so you can plan confidently for every stage of your project.Read More

What’s The Difference Between A HELOC And A Home Equity Loan?

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Choosing between a HELOC and a Home Equity Loan depends on your specific financial needs and circumstances. HELOCs offer flexible access to funds with variable interest rates, making them ideal for ongoing expenses or projects where total costs are uncertain. On the other hand, Home Equity Loans provide a lump sum with a fixed interest rate, suitable for those who have a specific amount in mind and prefer consistent repayment terms.Read More

Unlock Your Homebuying Power With The Trailing Primary Residence Program

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Buying before selling a primary residence can present financial challenges. However, the Trailing Primary Residence Program offers a solution that increases your purchasing power and allows you to leverage the equity from your departing residence. In this comprehensive blog post, we will delve into the inner workings of the Trailing Primary Residence Program, its remarkable benefits, and how it can empower you to buy a new home easily.Read More

Understanding Home Equity in Mortgages

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When it comes to real estate, equity is a term that holds significant importance. But what exactly is equity? Simply put, equity is the difference between the market value of your property and the amount you owe on your mortgage. It represents the portion of your home that you truly own. Read More

Leveraging Your Home Equity: Paying Off Debt and Seizing Investment Opportunities

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Harness the power of your home's equity to pay off consumer debt and make smart investments, while avoiding risky borrowing practices.Read More

Are Home Equity Lines (HELOCs) Still A Thing?

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The Prime Rate today is 6.25% – a full 3% higher than where it was last year at this time. Prime Rate is the rate that commercial banks charge their […]Read More

Save Money With An 80-10-10 Loan

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In today's market, it is important to consider every way to save money when buying a home. An 80-10-10 loan can be an excellent option for many homebuyers. But what exactly are they and how do they work? Here is everything you need to know about saving money with an 80-10-10 loan.Read More

2nd Mortgage vs. HELOC (Home Equity Line); Which Is Better?

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Yesterday’s blog, 5 Reasons to Get a HELOC, was inspired by a question from my nephew – as he is a perfect candidate for a HELOC. He is in his […]Read More

5 Reasons To Get a Home Equity Line Of Credit ASAP

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When I was in law school, I clerked for a firm that specialized in commercial litigation. And – the first thing the attorneys did when considering litigation was to ensure […]Read More

Are Home Equity Loans Tax Deductible?

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Homeowners cannot claim tax deductions on home equity loans in some cases. However, they can still benefit from cash-out refinancing programs to use the equity they've accrued in their homes. The Tax Cuts and Jobs Act, signed by President Trump in December 2017, introduced this change. Interest paid on home equity loans is no longer tax-deductible, although there is one exception. The IRS clarified that deductions are allowed if homeowners use the loan to "buy, build or substantially improve" the property the equity is coming from.Read More

Bridge Loans Overrated? Why We Like Equity Lines

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We are asked constantly about “bridge loans,” or temporary loans (usually 2nd mortgages) that sellers take out prior to selling. Bridge loans can be used for necessary repairs or for […]Read More