The RiskSpan Reverse Mortgage Market Index which measures held equity by older homeowners on a quarterly basis reported an all-time high increase of 227.07 in the first quarter of 2017. Since the index’s establishment in 2000, the current Q1 report marks a new record in its charts. The Read more
Be Careful When Choosing to Tap on Equity
Building your home equity is good. The more you pay against your mortgage, the higher the home equity gets. Once you have grown it high enough, you will be able to tap on equity.The economy is on a steady rise towards recovery. And when the market is doing good, you also expect your property’s Read more
All About Second Mortgages
Any and all mortgages taken out after or simultaneously with the first mortgage are called second mortgages. They are especially potent in environments where home prices are rising because that would mean more equity to borrow against. Second mortgages serve several purposes and appear in a variety Read more
When Should I Refinance with a Home Equity Loan?
A Home Equity Loan may sound like a really good deal, especially when offering lenders use today’s low interest rates as bait. Certainly, if you’ve gained significant equity on your home, it may be tempting to tap into this reserve and use the loan proceeds to splurge on whatever you see fit. Or Read more
Why are Home Equity Loan Rates Higher?
Have you noticed that home equity loan rates are higher than standard mortgage rates? In general, you can obtain a much lower interest rate for a first mortgage than any type of equity loan strictly because equity loans are a much higher risk than first mortgages. The First Lender has Priority One Read more
