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GetSmart.com Suggests Ways to Use a Home Equity Loan
A Home equity loan can be a useful, tax deductible, way to tap equity that you have accumulated
in your home. As long as you borrow wisely, this may be a good resource for some much needed
cash.
Charlotte, N.C. (PRWEB) August 10, 2007 -- Whether you"re looking to pay for a costly education, find funding
to renovate your home, or cover the costs of a large unexpected expense, you might want to consider a home
equity loan. Home equity loans are great alternatives to putting major expenses on a credit card, and have a much
lower interest rate.
A home equity loan gives the borrower a lump sum of money at a fixed interest rate, with your home used to
guarantee the loan. The borrower then pays the money back in monthly installments.
So when is getting a home equity loan a good idea? GetSmart.com shares some insight:
College tuition
If you need access to money to finance your child"s college education, a home equity loan is something you may
want to consider, particularly if your child doesn"t qualify for a student loan.
Debt consolidation
A home equity loan is a good chance to pay down debt from several credit cards. Consolidating the credit card
debt into a home equity loan gives you the opportunity to get a much better interest rate and likely pay off your
balance more quickly.
A major one-time expense
Home equity loans can be used to finance large one-time expenses such as the purchase of a car or a home
renovation.
For more information on home equity loans, check out GetSmart.com Loan Resources.
About GetSmart
GetSmart is a leading financial services marketplace that offers borrowers access to a range of home loan
products such as mortgages and refinance loans, home equity loans and lines of credit from a network of more
than 250 lenders. Consumers who visit the site at www.getsmart.com of call 1-800-GETSMART complete a short
and simple form and will then be matched with up to five competing lenders.
GetSmart is owned by LendingTree, LLC, which is an operating company of IAC.
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Contact Information
ALLISON VAIL
GetSmart.com
getsmart.com
704-843-8339