HELOC Vs Home Equity Loan: How Do They Work?
Savings Corner
APRIL 4, 2024
Both act as second mortgages, using your home as collateral, and may offer tax deductions if the funds are used for substantial repairs or upgrades. Compared to earlier years, HELOC originations are actually on par with pre-pandemic norms, while home equity originations are actually above the figures recorded between 2008 and 2021.
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