If you’re considering a home equity loan and wondering whether you can deduct the interest on your taxes, the answer is: maybe. Home equity loan interest isn’t automatically deductible just because the loan is secured by your home. Under cu…
Category: Home & Mortgage
There’s a rule that gets thrown around a lot: don’t spend more than 30% of your income on rent. It sounds simple until you actually do the math and realize there are two possible numbers: gross income and take-home pay. The 30% rule is a guideline, not…
If you’re struggling to keep up with loan payments, your lender may offer relief options. One of the most common is deferment, which lets you temporarily pause your payments. What is loan deferment, and when does it make sense to use it? Here’s what bo…
Most monthly mortgage payments are divided into four components, often abbreviated as PITI: principal, interest, taxes, and insurance. On a fixed-rate loan, the principal and interest portion is locked in at closing and never changes. But taxes and ins…
It can be tough to pull off, but plenty of people consider paying off their mortgage early. But just because you can doesn’t always mean you should. There are pros and cons of paying off your mortgage early, especially if money is tight right now. …
Owning a home has a lot of benefits, and one of them is the chance to access extra cash for big projects and emergencies. Yes, you may be able to borrow money to cover large expenses using your home’s value. But before you do, experts generally r…
If you took out a home equity loan and you’re wondering whether you can deduct the interest, the short answer is sometimes. The longer answer comes down to three things: The rules have changed a few times over the years, so before you assum…
Housing is one of the largest line items in the average American’s budget. As a result, when cash flow gets tight, it’s natural to wonder whether you can put your mortgage payment on a credit card to get a little breathing room. While doing so is often…
Home insurance is essential for protecting one of your biggest investments. But as premiums increase, many Americans are now searching for how to save on homeowners’ insurance and reduce their monthly bills while enjoying full protection. A 2025 …
Straight off the bat, you can not borrow from your IRA to buy a house. IRAs don’t allow loans. You can’t borrow against your balance, and you can’t use an IRA as collateral without triggering serious tax consequences. What the IRS does allow is a…