Can You Open a HELOC and Not Use It?
Opening a HELOC while you can qualify isn't a bad idea. If you need it later, you may not be approved when you need it most.
Aly J. Yale is a freelance writer specializing in real estate, mortgages, and the housing market. Her work has been featured in Forbes, Money, Bankrate, The Motley Fool, Fox Business, The Balance, and more. Prior to freelancing, she served as an editor and reporter for The Dallas Morning News. She graduated from TCU’s Bob Schieffer College of Communication with a focus on radio-TV-film and news-editorial journalism.
Opening a HELOC while you can qualify isn't a bad idea. If you need it later, you may not be approved when you need it most.
Understand the ins and outs of HELOC repayment, from draw periods to interest payments, and how to reduce your overall debt.
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The surge in lending for mortgages backed by the Department of Veterans Affairs came after rates dropped to a record low in the closing days of 2020.
Some lenders offer mortgages for doctors and dentists that allow higher debts such as student loans.
The number of days it took to close mortgages backed by the VA dropped to a 10-month low in July, led by a faster time frame for refinancings, according to a report from ICE Mortgage Technology.
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