Sentences with phrase «against home equity depends»

Your ability to borrow against home equity depends on how much home equity you have; this is determined by what your home is worth and how much you owe against it.

Not exact matches

Depending on the terms, the draw period will typically be up to 10 years, after which you will no longer be able to borrow against your home equity line of credit.

Therefore, your interest deductions for a home equity line of credit depend on whether you borrow against the equity during that year.

Borrowing against it is just as important because a HELOC is a mortgage with similar implications; and in some cases, depending on the fine print, a home equity line of credit can affect your credit rating, your ability to borrow for other needs, and even your ability to use your credit card going forward,» said Leclair.