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 508 E. Main St. Locust, NC 28907, phone: (704) 888-6699 / fax: (704) 888-6480 |
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23/11/2007
The benchmark 30-year fixed-rate mortgage remained at 6.74 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.25 discount and origination points. One year ago, the mortgage index was 6.91 percent; four weeks ago, it was 6.61 percent.09/07/2007
Some people use the terms "home equity loan" and "home equity line of credit" interchangeably. They mean very different things, however, and if you're considering borrowing against the equity in your castle, you should have a clear understanding of the differences and what they may mean to you.09/06/2007
A HELOC -- home equity line of credit -- might be a better fit if you will need money periodically and not all at once. This is the case in lengthy home remodeling projects when you pay the contractor in two or more draws. Or perhaps you will need to shed an arm and a leg at the beginning of each semester over the next four years when the kids head off to college. A HELOC gives you the flexibility to borrow what you need, when you need it.