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Home Equity Financing 101

Thinking of consolidating debt? Need to fund a college education? Entertaining a home improvement project? Looking to finance a “bucket list” vacation? If you are a homeowner, the financial resource may literally be all around you – home equity financing allows the applicant to borrow against the equity of their home by using the house as collateral to obtain a home equity loan or line of credit.

What’s the Difference? HELOAN vs. HELOC

Both a home equity loan and line of credit are useful, but are also very different. A home equity loan (HELOAN) is a fixed rate product with a…


Building a Home? Tips to Maintain Your Credit

Dreaming of building a new home? One of the first steps in the process should be speaking with a lender about mortgage pre-qualification. This preliminary conversation will be highly educational and will help you to choose the financing that is right for your situation.

During the pre-qualification process, your lender will review your credit report, but it will likely be many months before you are ready to move into your new home. Here are three tips to keep your credit on track during the building process:

Maintain your typical financial habits. If your credit score is in a healthy range at…


Tips for Obtaining a Loan for Your Small Business

If you are like many small business owners, you are optimistic about your company’s future growth prospects. Several surveys have reported the vast majority of businesses with less than $5 million in annual revenue are extremely confident in their business growth in 2016. That growth can create a need for additional employees, more inventory and new office space. This all leads to a need for capital.

For small business owners who are unprepared, obtaining financing can be a barrier to realizing that growth. It has been reported that only a third to a half of small businesses succeed in getting…

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