Home Equity Loans
Home equity is the difference between the remaining balance of the mortgage loans and the appraised value of the home. Lenders offer a percentage of your home equity as a loan to use for costly home improvements that are too expensive for homeowners to pay for using a credit card. Maintaining your property is an important responsibility, and will increase the appraised value of your property, thus improving your home equity. To a certain extent, the interest charged on home equity loans is tax deductible.A mortgage calculator can be used to capitalize on fluctuating mortgage rates by refinancing home equity loans to save on monthly payments.