Posts in Loans
What Can You Do with Home Equity?

Homeownership is one of the most significant investments many people make, and over time, that investment can grow in value. One of the best ways to tap into this value is through home equity. But what exactly can you do with home equity? From home improvements to consolidating debt, the possibilities are endless. In this guide, we'll explore various ways you can leverage your home equity to meet your financial goals.

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What is Home Equity?

Are you a homeowner looking for ways to leverage the value of your property? Understanding home equity (sometimes called a second mortgage) is key to unlocking financial opportunities. Whether you're considering home improvements, consolidating debt, or planning for retirement, knowing how to tap into your home equity can be a game-changer. In this post, we'll break down what home equity is, how to calculate it, and how you can use it wisely.

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Hard vs. Soft Inquiries: How They Affect Your Credit Score

When it comes to your credit score, understanding the difference between hard and soft inquiries will give you more control over your finances. Learn the key differences between hard and soft inquiries, how they affect your credit score, when they are used, and tips to manage them responsibly.

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Common Car Loan Mistakes and How to Avoid Them

Financing a car is a big decision, and making the wrong move can cost you in the long run. At Service One Credit Union (SOCU), we want to help you make informed financial choices so you can drive away with confidence. Here are some common car loan mistakes and how to avoid them.

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Home Equity Loan vs. Home Equity Line of Credit: Which is Right for You?

If you own a home and have built up some equity, you might have heard about Home Equity loans and Home Equity Lines of Credit (HELOCs). But what do they mean, and how are they different? Let’s break it down in a way that’s easy to understand.

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