Linda Bell
Senior Writer, Home Lending at Bankrate
Senior Writer Home Lending @Bankrate, Award-winning reporter, writer & creator of personal finance content. Previously @NerdWallet, @Bloomberg & @FoxBusiness
Articles
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1 week ago |
bankrate.com | Linda Bell |Troy Segal
Both home equity loans and lines of credit notched gains for the week. The average rate on a $30,000 home equity line of credit (HELOC) climbed two basis points this week to 8.02 percent, according to Bankrate’s national survey of lenders. Home equity loans also rose in the latest week, with the average $30,000 home equity loan gaining two basis points to 8.40 percent. Even though HELOCs have recorded two straight weeks of gains, they are still at their lowest level in two years.
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1 week ago |
bankrate.com | Linda Bell |Troy Segal
If you’re considering borrowing against your home equity to remodel or repair your home, you’re in good company: Renovations are the most common reasons homeowners take out home equity loans and home equity lines of credit (HELOCs). Here’s our guide to the best home equity lenders for home improvement and how to find one that’s tailored to your needs.
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1 week ago |
bankrate.com | Linda Bell |Troy Segal
This week in home news Economic uncertainty continues to reign supreme on the real estate scene, as HELOCs rise but home equity loans drop. In this weekly roundup, we ask: Is the housing market headed for a pronounced slump — and what could happen to your HELOC if it does? We also explore how government layoffs may impact consumer mortgage protections and how tariffs and mass deportations could make homes even less affordable.
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2 weeks ago |
bankrate.com | Linda Bell |Troy Segal
You hear it everywhere, including on Bankrate: You need strong credit to get a home equity loan, and the higher your credit score, the lower your rate. While that’s true, a less-than-sterling score – or no score at all – doesn’t automatically disqualify you from home equity loans and HELOCs. Some lenders are more amenable than others, though. Here are our picks of some of the best lenders for low or bad credit borrowers and how to find the right one for you.
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2 weeks ago |
bankrate.com | Linda Bell |Troy Segal
In a surprising spike, home equity lines of credit (HELOCs) climbed 10 basis points this week to 8 percent, according to Bankrate’s national survey of lenders. Conversely, home equity loans, fell in the latest week, with the average $30,000 home equity loan dropping two basis points to 8.38 percent. Before this week’s gains, HELOCs were on a downward trajectory, falling for seven weeks in a row. Even with the uptick, they they remain at their lowest level in two years.
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Home equity lending is evolving, and homeowners have more options than ever. Here’s what you need to know before you apply: https://t.co/Dy9eJCgfzI
There are many challenges for first-generation homebuyers to overcome, especially if you come from a marginalized community that doesn’t have a history of homeownership. More from @Bankrate: https://t.co/9X6XXQUmDG
If you’re thinking about applying for a HELOC or home equity loan, you need to borrow with a plan. Get prepared before you take out home equity: https://t.co/pkrFTpk8eB