Understanding HELOCs with Marshfield Medical Center Credit Union If you’re a homeowner, you might have heard the term “HELOC” tossed around in conversations about financial planning or home improvement. But what exactly is a HELOC, and when should you consider getting one? Let’s dive into the world of Home Equity Lines of Credit (HELOCs)… What...Read More

There are benefits of taking out a second mortgage. A second mortgage is a separate loan that you take out (in addition to your first mortgage). You can borrow on the equity in your home up to certain percentage, usually 80% of the value of your home, including your first mortgage balance.  (Example: Your home...Read More

A home equity loan is a type of loan where a homeowner can borrow against the equity in their home, which is the difference between the home’s market value and the outstanding mortgage balance. Equity in your home is calculated as the difference between your home’s value and your mortgage balance. Loans are secured against...Read More

How Home Equity Lending Can Help You A perk of home ownership is the ability to build equity over time, then use that equity to secure low-cost funds in the form of a one-time loan or a Home Equity Line of Credit (HELOC). Equity in your home is calculated as the difference between your home’s...Read More