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. This might help shield your budget from fluctuating-rate increases. This unpredictability could wreak havoc on your budget. Disadvantages HELOCs have variable rates.
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