33596, Valrico, FL

The 33596 zip code of Valrico, FL is located in Hillsborough County and has a population of approximately 97,000. The median household income in the 33596 zip code is $75,000 and the median home value is $225,000. The average home equity loan amount in the 33596 zip code is $176,500.

There has been a significant increase in home equity loans in the 33596 zip code over the past five years. In 2012, there were only 10 home equity loans in the 33596 zip code. By 2016, that number had increased to 34 home equity loans. This indicates that there has been a significant increase in demand for home equity loans in the 33596 zip code.

One reason for this increase may be that more people are buying homes in the 33596 zip code. Over the past five years, there has been a 20% increase in homeownership rates in the 33596 zip code. Additionally, more people are refinancing their homes to take advantage of low interest rates and higher home values. This combination means that more people are able to borrow against their homes to improve their financial situation overall.

The rise in demand for home equity loans may also be due to stricter lending criteria by banks and other lenders. Lenders have become increasingly cautious about approving borrowers forhome equity loans due to concerns about rising housing prices and potential economic downturns down the road. As a result of these stricter lending criteria, many people are turning to alternative sources of financing such as personal credit cards or payday loans instead of using theirhome equity loan proceeds to buy additional property or invest elsewhere."