
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.
Want to borrow against your home’s value? Be ready to meet these criteria.
One means lower payments, the other costs less overall.
Your home equity line of credit’s life ends — but the debt doesn’t just disappear.
VA home loans come with generous terms. But don’t assume the lender is giving you a free pass.
Don’t get tripped up at the finish line when you buy a house.
It can be a good solution — if you understand the risks of putting your house on the line.
Sometimes, it’s even easier than if you still had a mortgage. But there are caveats.