Home Equity Lines of Credit Are for Good Credit

Not have good credit can increase the difficulty that a homeowner encounters when seeking a home equity line of credit. Not having good credit can be the reason for a poor credit score. What is a credit score? 

The credit score varies between the values of 300 and 850. The credit score is the creation of the Fair Isaac Corporation. Lenders who arrange for a home equity line of credit use the credit score in order to set the interest rate that will be charged the homeowner. Homeowners with a low credit score will need to pay higher interest payments.

A score above 700 is assurance of good interest rates. The credit score also serves as an indicator of whether or not a lender should accept a homeowner’s application for credit. Decisions on credit limits for the homeowner are likewise based on the homeowner’s credit score.  The credit score is a function of the homeowner’s past line of credit. In the U.S., three different agencies keep a record of each consumer’s line of credit. Those agencies are Experian, TransUnion and Equifax. If a homeowner with a low credit score wants to raise that score, then the homeowner must contact each of those three agencies.  Learn more about mortgage rates in Orlando by visiting Loan Trust.

The effort to overcome a record of bad credit and to raise a credit score requires the contesting of false claims that money is owed. If the homeowner can prove that the claim for money is spurious then the homeowner has an opportunity to raise his credit score. This action should be taken if the homeowner who plans to seek a home equity line of credit has a score less than 640. Such a score would be a sign of bad credit.  The contesting of a credit score is not like a shot in the dark. A survey of credit reports in the U.S. showed that 80% of such reports contained mistakes. Thus, a homeowner could have good reason to question the credit score that is being used to determine the interest rate on a home equity line of credit. The credit score for a couple, a pair that are joint homeowners, is based on three credit scores from the person with the most sizable income. This is the score that the homeowner needs to make correct.

Such correction may require a written statement to each of the above-mentioned agencies. Those agencies will then contact the homeowner and indicate if more information is necessary. If the homeowner is lucky, then the credit score will be increased and the interest rate for the desired home equity line of credit will be lowered.  Once the homeowner has a good credit score then he will want to avoid slipping back into that region of bad credit. This means that the homeowners must avoid the sort of spending that carries them to the borders of their credit limits.  To find out more information about current mortgage rates visit Loan Trust Home Loans.

Choosing the right size water softener can feel overwhelming, but it doesn’t have to be. We help homeowners size their water softeners every day, and we’ve learned that making the right choice is simpler than most people think. Let’s walk through everything you need to know to find the perfect size for your home. (great resource:find more)

Understanding Water Softener Sizes

Water softeners are sized by their grain capacity, which tells you how many grains of hardness they can remove before needing to regenerate. Think of it like a bucket – the bigger the bucket, the more water it can hold before needing to be emptied. Common water softener sizes range from 24,000 grains to 110,000 grains or more.

Factors That Determine Your Size Needs

Your household’s ideal water softener size depends on several key factors. First, you’ll need to consider your daily water usage. A typical person uses about 75 gallons of water per day for things like showering, washing dishes, doing laundry, and other regular activities. So a family of four might use around 300 gallons daily.

The hardness of your water is another crucial factor. Water hardness is measured in grains per gallon (GPG), and it can vary significantly depending on your location and water source. City water usually ranges from 3-20 GPG, while well water can sometimes exceed 100 GPG. You’ll want to multiply your daily water usage by your water hardness level to determine your daily softening needs.

Iron Content Matters Too

If your water contains iron, you’ll need to factor this into your sizing calculations. Each part per million (ppm) of iron counts as about 4 GPG of hardness. So if your water has 3 ppm of iron, you’ll need to add 12 GPG to your hardness number. This ensures your softener can handle both the hardness and iron in your water.

Calculating Your Size Needs

Let’s walk through a simple example. Say you have a family of four, your water hardness is 15 GPG, and you have 2 ppm of iron. First, calculate your daily water usage: 4 people × 75 gallons = 300 gallons per day. Then, calculate your total hardness: 15 GPG (hardness) + 8 GPG (from iron) = 23 GPG total. Finally, multiply these numbers: 300 gallons × 23 GPG = 6,900 grains of hardness removal needed daily. Free Calculator: How to tell what size water softener i need?

Choosing Your System Size 

Most water softeners should regenerate about once per week for optimal efficiency. To find your ideal system size, multiply your daily grain requirement by 7 days. In our example above, that would be 6,900 × 7 = 48,300 grains. You’d want to choose a system with at least a 48,000-grain capacity.

Common Household Sizes

For most families, certain sizes tend to work well. A family of two with average water hardness might do fine with a 32,000-grain system. A family of four typically needs a 48,000 or 64,000-grain system, depending on their water hardness. Larger families or homes with very hard water might need systems of 80,000 grains or more.

Planning for the Future

When choosing your system size, think about your future needs. Are you planning to grow your family? Do you expect your water usage to increase? It’s usually better to choose a slightly larger system than to risk getting one that’s too small. A properly sized system will operate more efficiently and last longer.

Installation Considerations

Remember that water softeners need space for installation and regular maintenance. Make sure you have room for the size system you’re considering. You’ll need space for the mineral tank, brine tank, and enough clearance to perform maintenance tasks.

Making Your Final Decision

Once you’ve calculated your needs, add about 20% to account for unexpected usage and to ensure efficient operation. If you’re between sizes, going with the larger option usually makes more sense. A larger system won’t need to regenerate as often, which can save salt and water in the long run.

Need help figuring out the perfect size for your home? We’re here to help! Reach out to use here fleck water softener sizing, and we’ll walk you through the sizing process step by step. Remember, the right size water softener will provide years of efficient service and better water quality for your entire home.