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Piggyback Loans: Two Mortgages Cost Less Than One?
August 7, 2000 ?I can?t afford to put 20% down. My broker says it will cost less to take out a combination first and second mortgage, where the second would provide another 10% down, than to put 10% down on a first mortgage and ... more... Second Mortgage Versus 401K Loan July 10, 2000 "I need $10,000 for a home improvement. I can either take out a home equity loan or I can borrow from my 401K retirement fund. Would the tax benefits on the home equity loan outweigh the advantage of ... more... |
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home maintenance tax deductible purchasing first house related definitions |
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Home Equity Loan
Home Equity Loan A home equity loan is borrowing against the equity you have acquired in your home. Lets suppose your original mortgage was $175,000.00, but your house is worth $225,000.00. The difference is $50,000.00. ... more... Second Home, Vacation Home Second Home Second home is a seasonally occupied property that is not the primary residence of the owner. Such residences are usually found in areas with substantial opportunities for recreation or tourist activity. Second Home As Investment However, when market is ... more... |
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