Home Equity Loans
A home equity loan allows a consumer to borrow based on the equity they have accrued in their residence. These loans are a popular option to finance major purchases like home improvements, college education, or other real estate purchases. Generally, financial experts agree that it's a bad idea to use a home equity loan to buying depreciating assets like boats or cars. If you've worked diligently to pay down your mortgage, consider a home equity loan to finance a further investment in real estate.