GREENWAY BLOG

30 July 2025

Best Ways to Use a Home Equity Line of Credit (HELOC)

  What Can You Use a HELOC For? A Home Equity Line of Credit (HELOC) gives homeowners flexible access to the equity they’ve built in their property. At Greenway Mortgage, we see this as a powerful tool to help borrowers take the next step—whether that’s upgrading their home, managing debt, or preparing for the future. With no hard restrictions on how the funds are used, a HELOC offers the freedom to reach both financial and personal goals. Let’s take a look at some of the most effective ways to put your HELOC to work. Best Ways to Use a HELOC: Home improvements Debt consolidation Education...

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25 July 2025

MarketMinute | Home prices gains are higher in one segment

Jobless claims fell for a 6th week, underscoring the resilience of the labor market. Continuing claims held steady at 1.96 million. Consumer sentiment inched up in July to the highest level since February. Inflation fears eased, though concerns about future prices lingered. Leading indicators suggest the U.S. economy will slow. Tariffs are expected to drive up prices and weigh more heavily in the year's 2nd half. The median home price hit a record $435,300 in June, a 2% increase over last year....

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15 July 2025

Is it a good idea to use a HELOC to consolidate debt?

  Why a HELOC is a Smart Choice for Homeowners Looking to Consolidate Debt Carrying a large debt can feel like walking around with a giant rain cloud over your head. Overwhelming debt usually comes from student loans, credit cards, personal loans, and auto loans. If you are a homeowner, a home equity line of credit (HELOC) could be a good way to consolidate debt and lower interest rates, making it easier to get out from under the cloud.    Key Takeaways: A HELOC can be a smart choice for homeowners looking to consolidate debt because it typically offers a lower interest rate. This makes paying off the loan easier, as the...

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11 July 2025

MarketMinute | See real estate's legislative wins

In a recent Fed survey, consumers expected inflation to be at 3% a year from now, down from previous surveys and back to pre-tariff levels. Last week's stronger-than-expected jobs data surprised markets and took chances of a July Fed policy rate cut off the table. Continuing unemployment claims, an indicator of the total unemployed population, came in at the highest level since November 2021. Purchase mortgage applications rose 9% for the week and were a staggering 25% higher than the same week a...

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1 July 2025

Vacation Home vs. Investment Property: What’s the Difference?

  Buying a second home is an exciting step—whether it’s a cozy weekend getaway, a future retirement spot, or a property that brings in extra income. But before you start browsing listings, it’s important to understand how your intended use affects how the home is classified — and what that means for your mortgage, taxes, and more. Let’s break it down. Vacation Home (aka Second Home) A vacation home is a property you plan to live in for part of the year — not full-time, and not just as a rental. While it’s perfectly fine to rent it out when you’re not there, the key difference is that you can’t rely on...

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