Home Equity Loans Articles

Want to get your personal finances in order but you're not sure how?
Here at Mortgage Loan, we have a few tips!
Tax rules for home equity loans
Home Equity Loans

Tax rules for home equity loans

One of the main concerns people have about home equity loans has to do with how they are affected by tax policy. Specifically, what are the rules when it comes taxation and taking a deduction for the home equity loan interest that you pay?

Kirk Haverkamp
2 months ago
Why it’s hard to get a home equity loan from a non-bank lender
Home Equity Loans

Why it’s hard to get a home equity loan from a non-bank lender

America’s financial institutions, like most businesses, know how to fill a need when they see one. Borrowers who are self-employed, have bad credit or are somehow shut out from obtaining a mortgage from a bank can instead go to non-bank lenders and have an easier time being approved for a home loan, including a non-qualified mortgage loan.

Kirk Haverkamp
11 months ago
Is the home equity window closing?
Home Equity Loans

Is the home equity window closing?

With mortgage rates at record lows the last few years and home values increasing in many areas of the country, it has been a good time for homeowners to tap some of their home’s equity to pay off some bills or fix up their home.

Dan Rafter
2 years ago
Tax reform just made home equity loans a lot less attractive
Home Equity Loans

Tax reform just made home equity loans a lot less attractive

Home equity loans have long been attractive ways for homeowners to borrow money to pay for everything from major home improvements to a child's college education. But these loans just lost a major benefit: When filing their income taxes, homeowners can no longer deduct the interest they pay on home equity loans each year.

Dan Rafter
3 years ago
Using a home equity loan to raise resale value
Home Equity Loans

Using a home equity loan to raise resale value

Using a home equity loan for improvements such as new kitchens, bathrooms and fireplaces can help get a higher selling price for a home. The remodeled areas, real estate agents say, should lead to a better price for a home that needed the repairs anyway.

David  Mully
4 years ago
3 ways to go green with a home equity loan
Home Equity Loans

3 ways to go green with a home equity loan

Taking out a home equity loan to make your home more “green” and energy efficient can have the long-term effect of increasing your home’s value. But don’t forget the immediate benefits: a warmer home in the winter and a cooler one in the summer.

Kara  Johnson
5 years ago
The Return of Piggyback Loans
Home Equity Loans

The Return of Piggyback Loans

Taking out two mortgages on the same house simultaneously may sound like a bad idea at first glance, but "piggyback loans" are a common way to make a smaller down payment or avoid paying mortgage insurance.

Kirk Haverkamp
5 years ago
Financing a Second Home? Use a Home Equity Loan
Home Equity Loans

Financing a Second Home? Use a Home Equity Loan

Buying a second home can pose some challenges you don't face when buying a home for your primary residence. The mortgage interest rates are higher. Lenders will scrutinize your credit reports and income documentation very closely to ensure you have sufficient income to meet all your obligations. The property itself may be difficult to qualify for a mortgage.

Dan Rafter
6 years ago