Granite Equity Group is a full service broker with a complete suite of services to assist you with all your real estate needs.
Granite Equity Group Incorporated
6060 Sunrise Vista Dr., #1200
Citrus Heights, CA 95610.
Phone: (916) 560-3731, (877) 507-6760

Five Things to Consider Before Tapping Your Home for Cash


Source: Money-CNN
home with equity
During the housing bust, many homeowners were cut off from a popular source of funds: their homes.

But as home prices recover, more people have been able to tap their home’s equity to pay for renovations, consolidate debts or help pay for other big ticket items.

Home equity lines of credit were up 27% during the year ended June 30, according to financial services company Experian and consulting firm Oliver Wyman. And more people are expected to follow suit.

But does that mean a home equity loan (HEL) or home equity line of credit (HELOC) is right for you? Here are five things you need to consider.

1. Rates
In recent years, mortgage rates have hovered near historic lows — with nearly 9 million borrowers getting 30-year fixed mortgages at or below 4%, according to CoreLogic.

Read the full story at Money.Cnn.com