{"id":836,"date":"2022-01-25T00:25:17","date_gmt":"2022-01-25T00:25:17","guid":{"rendered":"https:\/\/1stur.com\/?p=836"},"modified":"2022-01-25T00:47:56","modified_gmt":"2022-01-25T00:47:56","slug":"home-equity-loans-and-helocs-come-with-closing-costs-heres-what-to-expect","status":"publish","type":"post","link":"https:\/\/1stur.com\/index.php\/2022\/01\/25\/home-equity-loans-and-helocs-come-with-closing-costs-heres-what-to-expect\/","title":{"rendered":"Home Equity Loans and HELOCs Come With Closing Costs. Here\u2019s What to Expect"},"content":{"rendered":"<!--themify_builder_content-->\n<div id=\"themify_builder_content-836\" data-postid=\"836\" class=\"themify_builder_content themify_builder_content-836 themify_builder tf_clear\">\n    \t<!-- module_row -->\n\t<div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_0fx9531 tb_first tf_clearfix\">\n\t    \t\t<div class=\"row_inner col_align_top col-count-1 tf_box tf_w tf_rel\">\n\t\t\t<div  data-lazy=\"1\" class=\"module_column tb-column col-full first tb_p80h533 tf_box\">\n\t\t\t    \t        <div class=\"tb-column-inner tf_box tf_w\">\n\t\t    <!-- module text -->\n<div  class=\"module module-text tb_3x8z534   \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n    <p>In Time Magazine, I and others talked about Home Equity Lines of Credit and their costs. Check out what we said in the article and video below.<\/p>\n<p>Article Link<br><a href=\"https:\/\/time.com\/nextadvisor\/loans\/home-equity\/how-much-are-home-equity-loan-closing-costs\/\" target=\"_blank\" rel=\"noopener\">Time Magazine<\/a><\/p>\n<p>Video Link<br><a href=\"https:\/\/www.tiktok.com\/@khariwashington\/video\/7056918196317834543?is_from_webapp=1&amp;sender_device=pc&amp;web_id7016421258838640133\" target=\"_blank\" rel=\"noopener\">TikTok<\/a><\/p>    <\/div>\n<\/div>\n<!-- \/module text -->\t        <\/div>\n\t    \t<\/div>\n\t\t    <\/div>\n\t    <!-- \/row_inner -->\n\t<\/div>\n\t<!-- \/module_row -->\n\t\t<!-- module_row -->\n\t<div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_gdhj531 tf_clearfix\">\n\t    \t\t<div class=\"row_inner col_align_top col-count-1 tf_box tf_w tf_rel\">\n\t\t\t<div  data-lazy=\"1\" class=\"module_column tb-column col-full first tb_daoq536 tf_box\">\n\t\t\t    \t        <div class=\"tb-column-inner tf_box tf_w\">\n\t\t    <!-- module plain text -->\n<div  class=\"module module-plain-text tb_rpr1536 \" data-lazy=\"1\">\n        <div class=\"tb_text_wrap\">\n\t<blockquote class=\"tiktok-embed\" cite=\"https:\/\/www.tiktok.com\/@khariwashington\/video\/7056918196317834543\" data-video-id=\"7056918196317834543\" style=\"max-width: 605px;min-width: 325px;\" > <section> <a target=\"_blank\" title=\"@khariwashington\" href=\"https:\/\/www.tiktok.com\/@khariwashington\">@khariwashington<\/a> 2nd Mortgage On Your House <a title=\"realestate\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/realestate\">#realestate<\/a> <a title=\"mortgagetips\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/mortgagetips\">#mortgagetips<\/a> <a title=\"personalfinance\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/personalfinance\">#personalfinance<\/a> <a target=\"_blank\" title=\"\u266c original sound - Khari Washington\" href=\"https:\/\/www.tiktok.com\/music\/original-sound-7056918188763761454\">\u266c original sound &#8211; Khari Washington<\/a> <\/section> <\/blockquote> <script async src=\"https:\/\/www.tiktok.com\/embed.js\"><\/script>    <\/div>\n<\/div>\n<!-- \/module plain text -->\t        <\/div>\n\t    \t<\/div>\n\t\t    <\/div>\n\t    <!-- \/row_inner -->\n\t<\/div>\n\t<!-- \/module_row -->\n\t\t<!-- module_row -->\n\t<div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_9x1w532 tf_clearfix\">\n\t    \t\t<div class=\"row_inner col_align_top col-count-1 tf_box tf_w tf_rel\">\n\t\t\t<div  data-lazy=\"1\" class=\"module_column tb-column col-full first tb_i80x537 tf_box\">\n\t\t\t    \t        <div class=\"tb-column-inner tf_box tf_w\">\n\t\t    <!-- module text -->\n<div  class=\"module module-text tb_uuca538   \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n    <p>So here&#8217;s a scenario for you. You have equity in your home, but you don&#8217;t want to refinance your first mortgage, but you want to get cash out of your home. How do you do it? Most people do it through what&#8217;s called a HELOC or second mortgage. What if this is if you take a loan against your house, it has a lower interest rate, but the bad part is now there&#8217;s a lean against your house for this money. So a HELOC allows you a line of credit. It&#8217;s called the home equity line of credit, almost like a credit card tied to your house with the lower interest rate than a credit card. A second, a regular second mortgage, is taking out a lump sum of money that you make monthly payments that you can&#8217;t re-borrow again. So what do you think? Are those good options for people to do? The bad part again, is you have a lien on your house and you&#8217;re going to be able to do great things like get into a car, redo your home, but you&#8217;re borrowing against your house. Do you think it&#8217;s a good idea? What about using a second mortgage to invest in other properties? Some people think it&#8217;s good. Some people don&#8217;t. What do you think?<\/p>    <\/div>\n<\/div>\n<!-- \/module text -->\t        <\/div>\n\t    \t<\/div>\n\t\t    <\/div>\n\t    <!-- \/row_inner -->\n\t<\/div>\n\t<!-- \/module_row -->\n\t<\/div>\n<!--\/themify_builder_content--><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>In Time Magazine, I and others talked about Home Equity Lines of Credit and their costs. Check out what we said in the article and video below. Article LinkTime Magazine Video LinkTikTok @khariwashington 2nd Mortgage On Your House #realestate #mortgagetips #personalfinance \u266c original sound &#8211; Khari Washington So here&#8217;s a scenario for you. You have [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","content-type":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[5],"tags":[51,10,50],"class_list":["post-836","post","type-post","status-publish","format-standard","hentry","category-media","tag-mortgage-tips","tag-personal-finance","tag-realestate","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"In Time Magazine, I and others talked about Home Equity Lines of Credit and their costs. 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You have","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/1stur.com\/#website"},"breadcrumb":{"@id":"https:\/\/1stur.com\/index.php\/2022\/01\/25\/home-equity-loans-and-helocs-come-with-closing-costs-heres-what-to-expect\/#breadcrumblist"},"author":{"@id":"https:\/\/1stur.com\/index.php\/author\/caras\/#author"},"creator":{"@id":"https:\/\/1stur.com\/index.php\/author\/caras\/#author"},"datePublished":"2022-01-25T00:25:17+00:00","dateModified":"2022-01-25T00:47:56+00:00"},{"@type":"WebSite","@id":"https:\/\/1stur.com\/#website","url":"https:\/\/1stur.com\/","name":"1st United Realty & Mortgage, Inc.","description":"We help people buy, sell, and finance real estate.","inLanguage":"en-US","publisher":{"@id":"https:\/\/1stur.com\/#organization"}}]},"og:locale":"en_US","og:site_name":"1st United Realty &amp; Mortgage, Inc. - We help people buy, sell, and finance real estate.","og:type":"article","og:title":"Home Equity Loans and HELOCs Come With Closing Costs. 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You have","twitter:creator":"@1stunitedrealty","twitter:image":"https:\/\/1stur.com\/wp-content\/uploads\/2020\/12\/realtymortgage-2.jpg"},"aioseo_meta_data":{"post_id":"836","title":"#post_title #separator_sa #site_title","description":"#post_excerpt","keywords":[],"keyphrases":{"focus":[],"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":[],"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"","isEnabled":true},"graphs":[],"defaultGraph":"Article","defaultPostTypeGraph":""},"schema_type":"default","schema_type_options":"{\"article\":{\"articleType\":\"BlogPosting\"},\"course\":{\"name\":\"\",\"description\":\"\",\"provider\":\"\"},\"faq\":{\"pages\":[]},\"product\":{\"reviews\":[]},\"recipe\":{\"ingredients\":[],\"instructions\":[],\"keywords\":[]},\"software\":{\"reviews\":[],\"operatingSystems\":[]},\"webPage\":{\"webPageType\":\"WebPage\"}}","pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":null,"created":"2022-01-25 00:25:20","updated":"2025-06-03 21:48:58","seo_analyzer_scan_date":null,"focus_keyword":null,"additional_keywords":null,"truseo_locale":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/1stur.com\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/1stur.com\/index.php\/category\/media\/\" title=\"Media\">Media<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\tHome Equity Loans and HELOCs Come With Closing Costs. Here\u2019s What to Expect\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/1stur.com"},{"label":"Media","link":"https:\/\/1stur.com\/index.php\/category\/media\/"},{"label":"Home Equity Loans and HELOCs Come With Closing Costs. Here\u2019s What to Expect","link":"https:\/\/1stur.com\/index.php\/2022\/01\/25\/home-equity-loans-and-helocs-come-with-closing-costs-heres-what-to-expect\/"}],"builder_content":"<p>In Time Magazine, I and others talked about Home Equity Lines of Credit and their costs. Check out what we said in the article and video below.<\/p> <p>Article Link<br><a href=\"https:\/\/time.com\/nextadvisor\/loans\/home-equity\/how-much-are-home-equity-loan-closing-costs\/\" target=\"_blank\" rel=\"noopener\">Time Magazine<\/a><\/p> <p>Video Link<br><a href=\"https:\/\/www.tiktok.com\/@khariwashington\/video\/7056918196317834543?is_from_webapp=1&amp;sender_device=pc&amp;web_id7016421258838640133\" target=\"_blank\" rel=\"noopener\">TikTok<\/a><\/p>\n<blockquote cite=\"https:\/\/www.tiktok.com\/@khariwashington\/video\/7056918196317834543\" data-video-id=\"7056918196317834543\" style=\"max-width: 605px;min-width: 325px;\" > <section> <a target=\"_blank\" title=\"@khariwashington\" href=\"https:\/\/www.tiktok.com\/@khariwashington\">@khariwashington<\/a> 2nd Mortgage On Your House <a title=\"realestate\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/realestate\">#realestate<\/a> <a title=\"mortgagetips\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/mortgagetips\">#mortgagetips<\/a> <a title=\"personalfinance\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/personalfinance\">#personalfinance<\/a> <a target=\"_blank\" title=\"\u266c original sound - Khari Washington\" href=\"https:\/\/www.tiktok.com\/music\/original-sound-7056918188763761454\">\u266c original sound - Khari Washington<\/a> <\/section> <\/blockquote>\n<p>So here's a scenario for you. You have equity in your home, but you don't want to refinance your first mortgage, but you want to get cash out of your home. How do you do it? Most people do it through what's called a HELOC or second mortgage. What if this is if you take a loan against your house, it has a lower interest rate, but the bad part is now there's a lean against your house for this money. So a HELOC allows you a line of credit. It's called the home equity line of credit, almost like a credit card tied to your house with the lower interest rate than a credit card. A second, a regular second mortgage, is taking out a lump sum of money that you make monthly payments that you can't re-borrow again. So what do you think? Are those good options for people to do? The bad part again, is you have a lien on your house and you're going to be able to do great things like get into a car, redo your home, but you're borrowing against your house. Do you think it's a good idea? What about using a second mortgage to invest in other properties? Some people think it's good. Some people don't. What do you think?<\/p>","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/posts\/836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/comments?post=836"}],"version-history":[{"count":5,"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/posts\/836\/revisions"}],"predecessor-version":[{"id":842,"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/posts\/836\/revisions\/842"}],"wp:attachment":[{"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/media?parent=836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/categories?post=836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1stur.com\/index.php\/wp-json\/wp\/v2\/tags?post=836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}