What is an interest-only HELOC and how does it work?
It lets you make minimal monthly repayments for a while. But it could shock you at the end.
Chloe A. Moore, CFP®, is a member of Bankrate’s Financial Review Board and founder of Financial Staples, a virtual, fee-only financial planning firm based in Atlanta and serving clients nationwide. The firm is dedicated to serving tech employees who are entrepreneurial-minded, philanthropic and purpose-driven.
Moore was named an Investopedia Top 100 Financial Advisor in 2020, 2021 and 2022. She has contributed to Business Insider and was featured in Financial Advisor, Wealth Management, NerdWallet, U.S. News and other outlets.
In addition to promoting financial literacy through speaking, writing and volunteering, Moore also focuses on the cultivation of female and minority financial planners. Along with three colleagues, she recently launched the BLatinX Internship Program (BLX), which provides paid internship opportunities to aspiring Black and Latinx financial planners.
Moore believes that money is an emotional topic and it impacts many aspects of our lives. She enjoys helping clients unpack their money history and discover how they can use money to support a life that is most meaningful to them.
It lets you make minimal monthly repayments for a while. But it could shock you at the end.
There are at least two schools of thought on how much it should be.
It’s a win-win plan — if you can afford it, of course.
One means lower payments, the other costs less overall.
Probably not. Here are all the pros and cons to consider.
Depending on whom you ask, the FSBO model can either save money or cost you even more.
Don’t get tripped up at the finish line when you buy a house.
VA home loans come with generous terms. But don’t assume the lender is giving you a free pass.