Posts

Are Home Equity Loans Tax Deductible?

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 […]Read More

Bridge Loans Overrated? Why We Like Equity Lines

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 a down payment to allow sellers to buy a new home before selling their old/current home. There are several types of bridge loans available including […]Read More

“80/10/10” HELOC Lender Now Requires 720 FICO In CA Only

Our Home Equity Line Of Credit (HELOC) Lender, that offers the “10%” second mortgages in conjunction with “80/10/10” financing, increased its minimum FICO from 700 to 720. This applies to California only. This means that borrowers with limited down payment funds (less than 20%) will either have to take a single loan with Private Mortgage […]Read More