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Home equity loans are a type of second mortgage that allows borrowers to tap into the equity of their home. See how second mortgages work at CU SoCal.
/Learn/Financial-Guidance/Blog/second-mortgage-vs-home-equity-loan
A HELOC is a type of second mortgage that allows you to open a line of credit and draw against it for a set period. View the full details at CU SoCal.
/Learn/Financial-Guidance/Blog/is-a-heloc-a-second-mortgage
HELOCs can be used to buy a second home; however, there are certain caveats to consider. Find how to use a HELOC to buy another house at CU SoCal.
/Learn/Financial-Guidance/Blog/can-you-use-a-heloc-to-buy-another-house
Even if a mortgage is paid off, homeowners can still make use of their equity via home equity loans, HELOCs, and more. CU SoCal explains how here.
/Learn/Financial-Guidance/Blog/can-i-mortgage-my-house-that-is-paid-off
HELOC interest is tax-deductible if funds are used for major home improvements, but there are limits on what you can do. CU SoCal explains the details.
/Learn/Financial-Guidance/Blog/is-heloc-interest-tax-deductible
Unlike home insurance, mortgage insurance protects lenders from borrowers who may default on their monthly payments. View the full details at CU SoCal.
/Learn/Financial-Guidance/Blog/what-is-mortgage-insurance
/Learn/Financial-Guidance/Videos-1/Getting-A-Mortgage
Getting rid of PMI is a straightforward process, so long as you're making your monthly payments and have enough equity. Learn how to do it at CU SoCal.
/Learn/Financial-Guidance/Blog/how-to-get-rid-of-private-mortgage-insurance
Although interest on a mortgage is tax deductible, it may not be worth it depending on your financial circumstances. View the full details at CU SoCal.
/Learn/Financial-Guidance/Blog/is-mortgage-interest-tax-deductible
HELOCs can be used for a variety of purposes, including paying for a down payment on a home. Find out how to use a HELOC for a down payment at CU SoCal.
/Learn/Financial-Guidance/Blog/can-you-use-a-heloc-for-a-down-payment
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Credit Union of Southern California (CU SoCal) is a leading financial institution empowering those who live, work, worship, or attend school in Orange County, Los Angeles County, Riverside County, and San Bernardino County to reach their goals and build strong financial futures. CU SoCal provides access to convenient money management services and offers competitive rates and flexible terms on auto loans, mortgages, and VISA credit cards—turning wishing and waiting into achieving and doing.

 

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