FCTD Blog

Current updates on the real estate market, private money, hard money, and trust deed investing.

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    Owner Occupied Loans

    Home Equity Lines of Credit vs. Second Mortgages

    If you want to unlock the value from your home while you’re still living in it, there are two main options available to you. A home equity loan, commonly known as a second mortgage, allows you to extract value from your home as a lump sum payment, which is added to your primary mortgage debt. A home equity line of credit (HELOC) can be a useful alternative, with this option allowing you to draw money from your property as you need it rather than as a lump sum.

    Picture of Ted Spradlin Ted Spradlin Dec 5, 2018 12:59:03 AM

    Hard Money and Private Money Owner-Occupied Loans

    At one stage or another, there will come a point in your life where you need to access cash quickly. As the name suggests, an owner-occupied loan is a loan which you will take out and secure against the property you live in. While some people use these loans for meeting personal expenses, others will use them to fund investment projects. Such projects usually take place in the real estate industry. If you’re trying to secure a private money owner-occupied loan, you may find that doing so with a view to expanding your current property portfolio works to your advantage.

    Picture of Ted Spradlin Ted Spradlin Oct 10, 2018 3:36:51 AM

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