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Does Home Equity Affect Eligibility for Financial Aid? What. – The CSS/Financial Aid PROFILE form, which is used by about 250 colleges for awarding their own financial aid funds, does count net home equity on the family’s principal place of residence as an asset, but caps it at 2-3 times income. Sometimes a family has sold their home but has not yet purchased a new home.
Home-Equity Loan Definition – A home-equity loan is a consumer loan secured by a second mortgage, allowing homeowners to borrow against their equity in the home. If you have a steady, reliable source of income and know that you will be able to repay the loan, its low interest rate and possible tax deductibility make it a.