Pros And Cons Of A Home Equity Line Of Credit (HELOC)
Savings Corner
APRIL 4, 2024
Possible tax-deductible interest Even after the Tax Cuts and Jobs Act of 2017, you can still deduct interest paid on a HELOC if you use the money for home renovations. However, HELOCs also have a variable rate, and the sense of a seemingly limitless credit line could make them risky for less-disciplined borrowers.
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