VSECU Blog
In the VSECU Blog you'll find financial and lifestyle resources to help empower possibilities for your personal success.
Alicia White has over 14 years of lending experience and specializes in home equity loans and home equity lines of credit. She lives a “simply great” life in Danville with her husband, son, two dogs, chickens, and bees. NMLS ID# 204489; VSECU NMLS ID# 416195
By: Alicia White
August 2nd, 2019
Homebuying and Mortgages | Saving and Budgeting | Investing in the Future
If you’re a parent, you may find that as the school year gets closer, figuring out a game plan to pay for college gets more overwhelming by the day. For most, funding education from savings alone is not an option.
By: Alicia White
March 21st, 2019
Homebuying and Mortgages | Saving and Budgeting
Homeowners have what seems like a never-ending list of need-to-do and want-to-do home improvement projects. From regular maintenance and repairs to protect your home’s value, to bathroom updates or additions to potentially increase value. The reality is that all renovations and repairs cost money and there is some serious time and planning involved if you want the project done right.
By: Alicia White
October 2nd, 2018
Energy Savings | Saving and Budgeting
Living in the Northeast when the seasons are changing can prove costly if your home is not energy efficient. You can easily spend hundreds of dollars on a heat pump, furnace repair or replacement, a pellet stove, air sealing, insulation, ventilation, or roof repair or replacement just to name a few. The list of potential fall weatherization and energy efficiency projects is often big, and finding funds necessary to pay for such efforts may be just enough to make some people think it’s simply not affordable for them.
By: Alicia White
March 28th, 2018
Homebuying and Mortgages | Learn Something New
As a result of the new tax legislation, enacted in December of 2017, homeowners will not receive tax deductions on home equity loan interest. Since the 1980’s homeowners have enjoyed a deduction for home equity interest on amounts up to $100,000. The legislation eliminated tax deductions for interest on new and existing home equity loans from 2018 through 2025. It did not eliminate deductions for interest on primary home mortgage loans.
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By: Alicia White
January 25th, 2018
Homebuying and Mortgages | Credit and Debt
As you pay down the mortgage on your home, the equity you build becomes an asset you can use to secure a loan or a line of credit. You can use the loan or line of credit to make home improvements (including energy efficiency upgrades), consolidate debt, make a large purchase, pay off school loans, cover retirement expenses, or more. Because home equity loans and credit lines are secured by your house, you can get a much lower interest rate than you would if you took out an unsecured loan or used your credit card for the expense.