Michael Charles, REALTOR & MLO

Home equity loans and HELOCs let homeowners borrow against their home’s value.
Home equity loan: fixed-rate lump sum, up to 85% home value, monthly installments.
HELOC: variable-rate second mortgage, revolving credit line backed by home equity.
Both use your property as collateral; lenders can seize it if you can’t repay.
Loan sizes and terms vary: $100K–$500K HELOCs, plus 5-yr to 30-yr loans.

Homeowners Tap Equity With HELOCs

10-yr Treasury yields tumbled after a 2-week US-Iran hostilities pause announcement.
War since late February pushed rates out of the fives, sidelining many buyers.
Yields later edged up as peace talks loomed, but temporary rate relief expected.
Strait of Hormuz reopening helped oil prices drop, easing inflation and boosting bonds.
An expert urged ready buyers not to wait, as price forecasts were revised upward.