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Home Real Estate - Original Content

Real Estate - Original Content

Affordable Housing

Evansville Promise Zone Partnership Announcement

If you are available please join us on Monday, February 11th at 1:30 pm CST to announce our new affordable housing partnership. The Promise Zone has formed a partnership with TruVest...
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Affordable Housing Project Aims to Revitalize Jacobsville Neighborhood on 44 News

Our affordable housing collaboration officially launched in Evansville, Indiana with Mayor Lloyd Winnecke and Evansville Promise Zone. We are thrilled to have such amazing coverage by 44News on how we are making an impact on families quality...
The Platform Journey

I Couldn’t Believe It!!!

I Couldn’t Believe It! I did not know what to do! I have never built a platform But John and Mike have really stepped up and have gotten knee deep with me (Not their...

You Said What???

https://youtu.be/RG-aGnc0br0 You Said What??? NO! That is the answer I got from numerous developers I have spoken to about creating the platform Speaking to 15 plus developers = Not all conversations are equal They either said...
The Platform Journey

What a Week!

This past week was full of so many emotions! We commenced beta testing for our due diligence platform, and also purchased 2 assets in Indiana. The launch of the platform by...

Creating Value Means What…..

Earlier this week I spoke with a good friend about how he handles his LinkedIn account and online experiences. He told me that the majority of his connections were just looking...

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How to get equity out of your home

Here are the four most popular ways: Cash-out refinance FHA 203(k) refinance for home improvements Home equity loan Home equity line of credit Any of those could be perfect — or damaging. Equity is simply the amount by which the current market value of your home exceeds your mortgage balance today. How to get equity out of your home: cash-out refinance With a cash-out refinance, you get a whole new first mortgage. How to get equity out of your home: FHA 203(k) refinance This is only going to work if you’re using all the money from your refinance for home improvements. How to get equity out of your home: home equity loan Home equity loans (HELs) are also called second mortgages. Why pay a higher rate on all your borrowing when you can keep your low rate on your first mortgage and pay a higher one just on your new loan? Home equity loan pros Rates are often just a bit higher those of a cash-out refinance LTVs for your combined secured loans are similar to those for a standard refinance: 80 percent for most; 90 percent for the most qualified borrowers Most HELs come with fixed rates and terms so they’re protected against inflation, and are highly predictable for budgeting No wonder HELs are popular. How to get equity out of your home: HELOC A home equity line of credit (HELOC) is the love child of a home equity loan and a credit card. Your lender determines your credit limit (usually somewhere between 80 and 90 percent), and you can borrow up to that. And while you may have started with a 15-year loan and a low interest-only payment, you will now be looking at a 15-year loan with ten years left to repay it, and interest rates that may be going up For instance, if you borrow $20,000 at 4.5 percent with a 15-year HELOC and a five year drawing period, and your balance increased by $4,000 every year and your rate increased every year by 1 percent, here’s your possible payment schedule: Year 1: Balance: $4,000 Rate: 4.5 percent Payment: $15 Year 2: Balance $8,000 Rate 5.5 percent Payment: $37 Year 3: Balance $12,000 Rate: 6.5 percent Payment: $65 Year 4: Balance $16,000 Rate 7.5 percent Payment: $100 Year 5: Balance $20,000 Rate 8.5 percent Payment: $142 YEARS 6 THROUGH 15: PAYMENT (assuming you can fix your rate at 8.5 percent): $248 MONTHLY Of course, some people will get themselves into trouble no matter how they borrow.