Home Equity

If you have a bad credit score, it may seem like you won’t be able to qualify for a loan. But if you’re a homeowner who has built up some equity, a home equity loan can be a low-cost way to borrow money, particularly if you need to consolidate other debts. Key Points Your Credit […]

Rising interest rates, high inflation, the return of student loan payments and the disappearance of stimulus checks are making it hard to save. Americans’ average retirement savings in 2019 had a median of $65,000. That’s only a 2% increase from 2016. The increase in retirement savings doesn’t even cover the cost of average yearly inflation.

Many homeowners have recently seen the amount of equity they have in their homes increase. According to Lendingtree.com, an average of 16.85% of homeowners considered a home equity loan or HELOC. And with home prices in many parts of the U.S. have risen dramatically. Because of this, it’s no surprise that millions of Americans considered

In 2019, about 37% of U.S. households owned their homes “free and clear,” meaning they no longer have a home mortgage to pay, according to a Zillow data analysis. This number ticked upward after the Great Recession, and over the past ten years, the share of homeowners paying off their mortgages has risen 5.5 percentage