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  1. – Using home equity to pay for tuition doesn’t come with the same strings attached, and could possibly even have tax deductible interest. Be sure to talk to your tax professional to see how this could affect your personal taxes.

    5 Smart Ways to Use Your Home Equity | Debt | US News – Your home equity can be a powerful asset. Here’s how to leverage it to the fullest. Your home equity can be a powerful asset. Here’s how to leverage it to the fullest..

    4 Ways to Get Cash Out of Your House – AARP The Magazine – Home equity lines of credit secured against the value of your property can also provide standby funds in a pinch. They are typically less useful for older homeowners, however, because retirees often have a hard time meeting lender qualification requirements unless they have significant sources of regular income, such as Social Security or pensions.

    Understanding your home equity and how to calculate it is important to homeowners. Learn from Better Money Habits how to calculate your loan-to-value ratio before refinancing with a home equity loan or line of credit.

    Two Types of Home Equity Loans. Similar to a credit card, you can borrow only what you need when you need it during the "draw period" (as long as your line of credit remains open). You’ll need to make modest payments on your debt during this time. After several years (10 years, for example), your draw period ends,

    Your home equity is the difference between the appraised value of your home and your current mortgage balance(s). The more equity you have, the more financing options may be available to you. Your equity helps your lender determine your loan-to-value ratio (LTV), which is one of the factors your lender will consider when deciding whether or not to approve your application.

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    How to Use Your Home Equity to Pay Off Student Loans. – Using home equity to pay off student loans is a possibility only if you have equity in your home. You have equity if your home is worth more than you owe on it. If you have a $200,000 home and owe $180,000 on it, you have $20,000 in equity. You can tap into your home equity to pay for college by: 1. Taking a cash-out refinance loan:

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