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Does Borrowing Against Your Home Equity Mean Getting a Loan?

Erika Gonzalez — Mon, 14 Jul 2025 22:22:08 +0000

Key Takeaways: Thinking about borrowing against your home equity? If so, it’s time to learn about the options you have. In this article, we’ll look at what it means to access your home equity and explore ways to do so that go beyond traditional loans. U.S. homeowners hold a collective total of almost $35 trillion in home equity. Compare that number to about $20 trillion of…

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Customer Success Story: Anthia

Erika Gonzalez — Mon, 07 Jul 2025 23:03:35 +0000

“I was just drowning in credit card debt,” says the single mother. Dealing with significant unpaid child support and rising prices, she found herself with just one alternative: credit cards. Juggling credit cards to pay for groceries and other essential expenses, Anthia says she felt that she was continually “robbing Peter to pay Paul.” She knew, though, that she had equity in her home…

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Planning and Financing a Bathroom Remodel

Erika Gonzalez — Mon, 30 Jun 2025 20:37:18 +0000

Key takeaways: Bathroom remodels consistently rank as some of the most popular home improvement projects. Whether it’s a simple cosmetic update or a transformation into an at-home spa, an updated bathroom can offer greater comfort, functionality, and relaxation. And as more homeowners look to age in place, bathroom updates to accommodate that goal are becoming more common.

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How to Steer Clear of Common Homeowner Scams

Erika Gonzalez — Mon, 23 Jun 2025 23:08:54 +0000

Key takeaways: Owning your own home can be a wonderful experience, offering stability, freedom, the ability to generate equity and all the benefits that come with the pride of ownership. It also comes with the responsibility to maintain your home, pay property taxes and insurance, and sometimes, the need to identify and deal with scams. Scammers can target homeowners to steal…

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Options for Tapping Home Equity Without Monthly Payments

Erika Gonzalez — Mon, 16 Jun 2025 22:51:53 +0000

Key Takeaways Homeowners in the U.S. are sitting on a combined $17.3 trillion in home equity, according to a 2025 quarterly report from Cotality. That’s a lot of money that could be used for home improvements, education costs, even daily expenses. But the most common methods of accessing that equity come with interest charges – and monthly payments, which can be a drag on…

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Customer Success Story: Dianne

Erika Gonzalez — Mon, 09 Jun 2025 22:34:10 +0000

Eliminating the threat of foreclosure HOA fees can be high, no doubt about it. But one Washington State homeowner found herself looking at an exceptionally high one-time assessment from her condominium association– one totaling almost $70,000. “I just didn’t have that kind of cash available,” says Dianne. “I didn’t know what I was going to do and was afraid of losing my home.

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Six Common Credit Score Mistakes to Avoid

Erika Gonzalez — Wed, 04 Jun 2025 00:05:42 +0000

Key takeaways When people think about credit scores, they often focus on getting approved for a mortgage or a car loan. But your score can affect much more than your ability to borrow money. It can influence your car insurance rates, the terms of your cell phone plan, and even offer a leg up on a job application. A good score doesn’t just help you qualify for credit.

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How to Settle Your HEA with a Cash-Out Refinance

Erika Gonzalez — Thu, 29 May 2025 22:34:06 +0000

Key takeaways If you have a home equity agreement (HEA), you know it’s not a loan, and you know there are no monthly payments to make. You probably also know that you will eventually need to buy back your equity, or “settle,” with your HEA provider before your HEA term runs out. With Unlock, that’s 10 years. Homeowners who have HEAs often settle when they sell their home.

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Which Outdoor Projects Return the Most Value?

Erika Gonzalez — Thu, 22 May 2025 23:42:16 +0000

Key takeaways: With warmer weather upon us, many homeowners are turning their focus outdoors and eyeing projects that can increase their home’s comfort, usability, and potentially, value. Here, we take a look at some of the projects that can deliver a high return on investment – and some options on how to pay for them. Return on investment (ROI) measures how much of the cost of an…

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Strategies for Increasing Your Home Equity

Erika Gonzalez — Mon, 19 May 2025 17:03:17 +0000

Key Takeaways When you build equity in your home, you’re increasing what you own compared to what you owe. For instance, suppose your home’s value is $600,000, but you still owe $500,000 on your mortgage. The difference – $100,000 – is your equity, or the portion of the home you own. There are two main ways to increase home equity: by decreasing your mortgage balance or by…

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