Home equity is important to have for many reasons, including to borrow against it in the form of a home equity loan or home equity line of credit (HELOC). Home equity represents funds you can use to do any of the following, or more!

You may have been thinking about refinancing your home for a while but thought the opportunity passed you by. However, rates are continuing to hover at near-record lows, making now an ideal time to consider refinancing your mortgage — especially if one of the following four reasons is relevant to you.

First-time homebuyers are frequently shocked that it's much more challenging to qualify for a mortgage than other loan types. Home loans are usually relatively large and have longer loan terms, so they are more of a risk for the lender.