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What is the Difference Between a Reverse Mortgage and a Home Equity Conversion Mortgage?

May 25, 2023 by Robby Oakes

A reverse mortgage and a home. equity conversion mortgages (HECM) are both types of loan products that allow homeowners to tap into the equity they have built up in their homes. However, there are some important differences between the two.

Filed Under: Mortgage Tagged With: Home Equity, Mortgage, Reverse Mortgage

A Home Equity Loan Versus A HELOC

April 7, 2023 by Robby Oakes

If you are looking for a quick source of cash, you may have been told that you can tap into the equity in your home. If you have at least 20 percent equity in your home, you can borrow against that equity at a relatively low-interest rate for a quick source of funding. You might be deciding whether to apply for a home equity loan or a home equity line of credit, which is usually shortened to HELOC.

Filed Under: Mortgage Tagged With: HELOC, Home Equity, Mortgage

Top Uses Of A HELOC

July 5, 2018 by Robby Oakes

Homeowners who have equity built up in their homes can tap into that equity using a home equity line of credit, or HELOC. This financial tool can be a great way to accomplish a number of financial goals.

Filed Under: Mortgage Tagged With: credit, Home Equity, Mortgage

Equity Loan and HELOC vs. Reverse Mortgage – What’s the Difference?

April 24, 2018 by Robby Oakes

There are times in our lives when the idea of freeing up cash becomes desirable or necessary. Near retirement, this is a common consideration. The typical financial tool that many retirees want to know about is a reverse mortgage, but it’s not the only equity tool available.

Filed Under: Mortgage Tagged With: HELOC, Home Equity, Reverse Mortgage

Over 5 Trillion Dollars In Home Equity May Lead To More Cash Out Transactions

March 27, 2018 by Robby Oakes

US homeowners now have over 5 trillion dollars in home equity which is a very large amount of money! So this year may be the year for a lot of cash out refinances and other home equity mortgage products. Most often, when you are purchasing a home, you are buying at or below the appraised value and you are making a down payment.

Filed Under: Mortgage Tagged With: Cash Out, Home Equity, Mortgage

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Robby Oakes


Robby Oakes

CIMG Managing  Director
NMLS# 91606

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