Adam Spigelman | Source | Senior Vice President at Planet Home Lending

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Adam Spigelman

Senior Vice President at Planet Home Lending
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Experienced Sales Manager with a demonstrated history of working in the financial services industry. Skilled in Microsoft Word, Banking, Advertising, Sales, and Credit Analysis. Strong sales professional with a Bachelor's degree focused in Communications from West Virginia University.

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  • Home Equity Loans Easier to Qualify for Than HELOCs, Says Expert
    Adam explains that "home equity loans are generally easier to qualify for" due to their fixed-rate, one-time disbursement nature. HELOCs pose more risk to lenders. He advises consulting a mortgage professional and applying when financially stable to ensure approval, emphasizing that fear should not drive the decision.
  • Smart Mortgage Choices: Beyond Waived Fees
    Adam stresses that while waived fees can be appealing, borrowers should focus on "the overall cost of the loan, interest rate, and how well the mortgage fits their financial goals." He advises understanding discount points and considering FHA loans for savings. Choose lenders who prioritize transparency and long-term value, not just upfront perks.
  • HELOC vs. Home Equity Loan: 2025 Insights from Planet Home Lending
    Adam highlights that HELOCs offer low initial payments but can lead to payment shock due to adjustable rates. "A HELOAN provides stable payments," aiding debt-free goals. He advises considering current availability and personal financial factors when choosing. Key questions include interest rates, rate changes, and payment structures. Consult a mortgage officer for tailored advice.
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  • It’s smart to shop and compare interest rates and fees. They both will be different from lender to lender. Your goals and needs influence which combination of costs and rates will be your best bet. For example, if you are not staying in the house long term, it might make more sense to take a slightly higher interest rate to get lower fees than to take the lowest possible rate and pay higher fees.

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