Cory Thompson - Mid America Mortgage, Inc.

Cory Thompson August 2, 2023

How Much Equity Can I Borrow from My House

In general, lenders typically allow you to borrow up to 80% of your home’s equity. For example, if your home is currently valued at $400,000 and you owe $200,000 on your mortgage, you may be able to borrow up to $160,000 (80% of the $200,000 in equity you have in your home).

Cory Thompson August 1, 2023

The Difference Between A Home Equity Loan Versus A HELOC

When homeowners need to tap into the equity they’ve built in their homes, two popular options are Home Equity Loans (HEL) and Home Equity Lines of Credit (HELOC). Both types of loans allow homeowners to access funds for various purposes, such as home improvements, debt consolidation, or unexpected expenses. However, it’s essential to understand the differences between these two mortgage products to make an informed decision that aligns with your specific needs and financial goals. Here are some important differences between the two.

Cory Thompson July 31, 2023

What’s Ahead For Mortgage Rates This Week – July 31, 2023

The Federal Reserve raised its target interest rate range to 5.25 to 5.50 percent; this announcement signaled that rates for home loans and unsecured credit would also rise.

Cory Thompson July 26, 2023

Selling a House “As-Is”: Pros, Cons, and Considerations

Selling a house as-is can be a viable option for homeowners looking for convenience and cost savings. However, it’s crucial to carefully consider the potential drawbacks, such as a lower sale price and limited buyer pool. Assessing the property’s condition, seeking professional advice, and evaluating the financial implications are essential steps in deciding whether selling a house as-is is the right choice for you.

How Much Equity Can I Borrow from My House

The Difference Between A Home Equity Loan Versus A HELOC

What’s Ahead For Mortgage Rates This Week – July 31, 2023

Selling a House “As-Is”: Pros, Cons, and Considerations

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