HELOCs, or home equity lines of credit, give homeowners a way to leverage the growing value of their house for anything from renovations to college tuition — and enjoy 10 years of interest-only ...

A Home Equity Line of Credit (HELOC) is a revolving loan that allows homeowners to borrow against the equity in their home. Unlike a traditional loan, you can borrow and repay during the draw period.

Sarah Sharkey is a personal finance writer who enjoys diving into the details to help readers make savvy financial decisions. She lives in Florida with her husband and dogs. When she’s not writing, ...

While it may be tempting to borrow money quickly, particularly if you're financial health has been hurt by stagnant inflation and higher interest rates, it's critical to first stop to calculate your ...

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

Reviewed by Anthony BattleFact checked by Suzanne KvilhaugReviewed by Anthony BattleFact checked by Suzanne Kvilhaug Loan repayment is the act of paying back money previously borrowed from a lender, ...

To calculate your home's equity, subtract the balance on all debts secured by your home – including your primary mortgage and any secondary loans – from your property's current appraised value. The ...

Mary Beth Eastman is a contributor to Buy Side and finance expert, specializing in loans, mortgages and insurance. Staff Personal Finance Editor, Buy Side Valerie Morris is a staff editor at Buy Side ...

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

To calculate home equity, subtract the total outstanding mortgage and lien balances from your home's current market value. Having home equity gives you more options when you need money. Whether you ...

Home equity is the portion of a house that the homeowner holds outright — the difference between the house's value and the total amount they owe on the home. As their equity increases, homeowners can ...