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  2. Can you use home equity to buy a second home? - AOL

    www.aol.com/finance/home-equity-buy-second-home...

    For example, you use home equity funds to acquire some wooded acres behind your place to clear and build a little guest house; or you buy the house next door and connect it to your residence.

  3. Have Home Equity? Experts Explain Why You Should Use It To ...

    www.aol.com/home-equity-experts-explain-why...

    Another reason to use equity to purchase a second home is the fact that the loan terms will most likely be favorable when compared to taking out a traditional mortgage, according to Brian Mollo ...

  4. Fact vs. fiction: Top 7 common home equity myths — debunked

    www.aol.com/finance/home-equity-myths-debunked...

    Reverse mortgage — Type of loan for homeowners ages 62 and older to borrow against their home equity, using their home as collateral — yet instead of you repaying the lender, the lender pays ...

  5. How much equity can I borrow from my home? (And why isn ... - AOL

    www.aol.com/finance/much-equity-borrow-home-why...

    The $250,000 mortgage balance plus the $50,000 home equity loan would put you at $300,000, or a CLTV of around 86 percent — too high for most lenders. ... planning to buy a second one, using the ...

  6. Second mortgage - Wikipedia

    en.wikipedia.org/wiki/Second_mortgage

    Second mortgage interest rate payments are also tax deductible given certain conditions are met. [35] This advantage of second mortgages reduces the borrower's taxable income by the value of the interest expense. [36] In general, total monthly repayments on the second mortgage are lower than that of the first mortgage.

  7. Home equity loan - Wikipedia

    en.wikipedia.org/wiki/Home_equity_loan

    Home equity loans and lines of credit are usually, but not always, for a shorter term than first mortgages. Home equity loan can be used as a person's main mortgage in place of a traditional mortgage. However, one cannot purchase a home using a home equity loan, one can only use a home equity loan to refinance. In the United States until ...

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