What Is an Interest Only HELOC and How Do They Work?

September 19, 2024June 14, 2024 by HEM Editor

If you want money to cover a major expense in 2024, a good option is an interest-only home equity line of credit (HELOC). People love the interest-only HELOC because it has a revolving credit line based on your home’s equity, and the money can be used for anything from paying for college tuition to credit … Read more

HELOC for Debt Consolidation

September 19, 2024April 9, 2024 by HEM Editor

Many homeowners have been using a HELOC to consolidating debt and refinance high interest accounts. Americans hold trillions in debt, including mortgages, auto loans, credit cards, and student loans. Some debt can be important to help you achieve financial goals. But high-interest debt, such as credit card balances, can be a major drag on your … Read more

Can I Get a HELOC on an Investment Property?

January 9, 2025March 12, 2024 by HEM Editor

People want to know if its is still possible to take out a HELOC on their investment property, or second home. The home equity line of credit has been a powerful tool for homeowners to leverage their real estate to buy an investment property, of vacation home. But it is also possible to take out … Read more