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. Of course, all this home equity borrowing is made possible by the record-setting rise in home prices since the start of the pandemic, which has increased the value of homeowners’ equity stakes.
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