kaleidico, Author at Compass Mortgage

Home Equity Loan vs. Line of Credit: How to Choose

The decision between a home equity loan vs. line of credit depends on a borrower’s specific goals and repayment preferences. Here’s how to choose.

Using Home Equity Loans To Buy Your Vacation Home?

Using home equity to buy your vacation home? It’s a dream for many Americans, but it’s not the same process as your first mortgage. Requirements can be tricky.

Cash-Out Refinance vs. Home Equity Loan: Which is Better for You?

Tapping into your home equity can help fund a variety of projects and expenses. We’ll share the differences between a cash-out refinance vs. home equity loan.

Can I Use a Home Equity Loan to Pay Off My Debt?

One of the most common uses of a home equity loan is to pay off debt. Learn how a home equity loan works and whether you should get one for your debt situation

Home Equity Loan Requirements: How to Prepare

Home equity loan requirements are similar to other home loans, but you’ll have to understand the amount of equity in your home. We’ll share how to prepare.

What is a Second Mortgage?

What is a second mortgage? These unique loans allow borrowers to tap into the equity locked up in their homes and use the funds for a variety of purposes.

Appraisal Gap: What to Do When Your Appraisal Falls Short

The dreaded appraisal gap in a seller’s market used to mean the buyer pays the difference. Compass Mortgage has an alternative appraisal gap coverage option.

What Is a Fixed-Rate Second Mortgage?

If you want to take advantage of the record amount of equity locked up in your home, you may want to consider a fixed-rate second mortgage, or home equity loan.

Down Payment for a House: What a First-Time Home Buyer Needs to Know

Making a down payment for a house is a big step for first-time home buyers, and one that comes with many considerations. We’ll walk you through the process.