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0.0004313443565781 0.000603882099209307 0.000661394680086321 0.000661394680086321 -0.00158159597411937 -0.00168224299065415 -0.00618260244428462 -0.00540618260244427
Stock impact report

Should I use home equity to pay for my kid's college? [CNBC]

PNC Financial Services Group, Inc. (The) (PNC) 
Last pnc financial services group, inc. (the) earnings: 4/15 06:41 am Check Earnings Report
Company Research Source: CNBC
College comes with a hefty price tag . If you own your home, you may be considering funding your child's education with a or a instead of taking out student loans. But should you? There are upsides to tapping into your home equity for higher education, but serious downsides, as well. How to use home equity to pay for college Home equity loans and HELOCs are second mortgages that allow you to borrow against the equity you've built up while paying your mortgage. The money can be used for anything — home improvements, paying down debt and, yes, your children's tuition and room and board. A home equity loan is a one-time cash infusion paid back with a fixed interest rate, typically over 30 years. Rocket Mortgage , one of our top picks for home equity loans , will approve homeowners for up to 90% of their home's value, compared to 85% for most lenders. Annual Percentage Rate (APR) Types of loans Terms Credit needed Minimum down payment A HELOC , meanwhile, is a revol Show less Read more
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