Home equity loans are secondary loans made to the principle mortgage on a house. Understand how home equit… More
Equity is basically the amount of a home that is not leveraged by a mortgage. Learn about the differences … More
Using home equity, which is calculated by the value minus the mortgage balance, can be done by applying fo… More
Home equity security is essentially based on the principle that more equity means more security. Find out … More
Interest rates for home equity lines are varied based on the value of the overall home and how much is bei… More
Pitfalls of home equity loans include working with a disreputable banker, paying exorbitant fees and payin… More
Home equity loans are any money real estate has accrued over the time you have owned the property. So how… More
A home equity loan is generally a fixed rate loan, while the HELOC, or Home Equity Line of Credit, is like… More
Home equity loans allow you to borrow money by using your house or property as collateral. Because of the … More
Shopping for home equity loans is an important process for a homeowner. Differences in interest rates and … More
Fixed home equity loans are loans with a fixed rate of interest, as opposed to variable interest rate loan… More
Knowing how to build equity in your home can save money over the long run, as you'll pay less interest on … More
Home equity loans and mortgage payments are all considered tax deductible, which is why many home owners f… More
The most notable hidden cost associated with home equity loans is the origination fee, which is a point th… More
Summary: Home equity security is essentially based on the principle that more equity means more security. Find out how to use home equity security to help with life changes with help from a financial adviser in this free video on home equity and personal finance.
Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients. He has worked in financial services, senior management positions in mortgage banking...read more
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"Hi, this is Matt McKillen with Innovative Financial Group. The question posed to me today is what is home equity security? It's actually a question I've not been asked before. I believe that home equity security is basically the more equity you have in your home, the more secure you are for financial crisis down the road, or if let's say you see a larger home you may want to purchase down the road, when you have home equity, home equity is the amount of the value of your house that's not encumbered by a mortgage. So for example you may be living in a hundred thousand dollar house, only owe about fifty thousand dollars. You have about fifty thousand dollars in equity in that property which I consider to be security. If you sold that home and you turned around and purchased a new home, after you pay your mortgage off you're going to have fifty thousand dollars in down payment to work to maybe to move into a larger house if your family grows or if you have to transfer due to a job change, so I think the definition of home equity security is having that equity available for changes in your life down the road. Again my name is Matt McKillen, and I'm with Innovative Financial Group."
eHow Article: What Is Home Equity Security?
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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