The difference between a home equity line of credit & a home equity loan (explained)!
The difference between a home equity line of credit & a home equity loan (explained) http://thriftydiydiva.com/the-difference-between-a-home-equity-line-of-credit-a-home-equity-loan-explained/ #homeowners #financetips
Home Equity Booklet. The HELOC booklet includes information on: • What is a home equity line of credit? • What should you look for when shopping for a plan? • Costs of establishing and maintaining a home equity line • How will you repay your home equity plan? • Lines of credit vs. traditional second mortgage loans • What if the lender freezes or reduces your line of credit?
A major perk of using a Home Equity Line of Credit to consolidate your debt is that you’re likely to reduce the amount of interest you’re paying. Home equity interest rates can be lower than credit card or other loan rates. Find out if it’s the right option for you.