Category: Home Equity
Understanding LTV Limits
Before you borrow against your home, it’s worth knowing where you stand on your current mortgage and how much equity you can actually access. No matter which lender you’re working with, they’ll look closely at your Loan-to-Value (LTV) ratio: a simple calculation that shows how much of your home you’ve already paid off and sets the benchmarks for how much ...
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2026 Home Equity Special
Starting May 26, 2026, People Driven Credit Union members can take advantage of a limited-time Home Equity Special and save on the cost of borrowing. Turn Your Home Equity Into Possibility For a limited time, PDCU will waive closing costs up to $495 on a Home Equity Line of Credit, also known as a HELOC, for a primary residence. A ...
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Mortgage Refinance vs. Home Equity Loan: Which Is Right for You?
If you are a homeowner weighing your options to access cash or lower your monthly payment, two paths come up most often: a Mortgage Refinance and a Fixed Rate Home Equity Loan. Both let you tap into the value you have built in your home. Both can save you money or give you access to funds. But they work differently, ...
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How to Choose the Best Loan for Your Next Home Project
If you are trying to figure out the best loan for home improvements, you are not alone. Whether you are remodeling a kitchen, replacing windows, upgrading a bathroom, or tackling a long list of home repairs, the right financing option depends on how you will pay for the project and how you want to repay the money. Home improvement loans ...
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A Fresh Start for Your Home and Wallet
A Fresh Start for Your Home and Wallet. The weather changes, routines shift, and many people start thinking about ways to improve their homes and finances. If you have been putting off home projects, meaning to revisit your budget, or looking for ways to simplify monthly expenses, this season is a smart time to get back on track. A few ...
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HELOC vs. Fixed Rate Home Equity Loan
Suppose you’re considering tapping into your home’s equity to fund a renovation, consolidate debt, or cover other significant expenses. In that case, you’ve likely come across two main options: a Home Equity Line of Credit (HELOC) and a Fixed Rate Home Equity Loan. While both allow you to leverage the value of your home, they offer different advantages depending on ...
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How a Bridge Loan Works
A bridge loan lets you use the equity in your current home to fund the down payment on your next one—so you can buy first, sell second, and move once. Buy Before You Sell: How a Bridge Loan Works (Without the Headache) At People Driven Credit Union, this program is a fixed-rate balloon loan with a 6-month term; monthly payments ...
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Bridge Loans vs. 80-10-10 Piggyback
Bridge Loans vs. 80-10-10 Piggyback. Both help you buy a home, but they solve different problems. A bridge loan tackles timing (buy before you sell). An 80-10-10 tackles structure (keep the first mortgage at 80% to avoid PMI). Different Tools, Different Jobs Choose based on the job you need done—not the latest internet advice. Objectives: Bridge Loans vs. 80-10-10 Piggyback, ...
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Autumn Home Maintenance Tips to Protect Your Investment
Fall is the sweet spot for home maintenance in Michigan, cool enough to work, early enough to beat winter. A few weekend projects now can help prevent leaks, drafts, and surprise repairs later. Use this checklist to protect your most significant investment and keep energy costs in check. Home Maintenance Tips: 1) Clear Gutters & Downspouts Remove leaves and debris, ...
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The Benefits of a HELOC for Summer Home Projects
Summer is the perfect season for home improvement. The weather’s ideal, the days are longer, and there’s just something about sunshine that makes you want to refresh and upgrade your space. Whether it’s a new deck, updated kitchen, landscaping, or energy-efficient upgrades, these projects can increase your home’s value and your enjoyment of it. HELOC for Summer Home Projects can ...
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