College College Tuition Trends Used 
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. Both funding options allow you to use the funds however you see fit. Others use them to pay off high-interest credit card debt or other bills. $16
Savings Corner
APRIL 4, 2024
Home equity loans are best used for five-figure renovation or repair projects — which can garner you a tax deduction on their interest — or to consolidate other debts. You can use the funds from a home equity loan for any purpose, but there’s a possible tax benefit if you use the money to improve your home.
Expert insights. Personalized for you.
52 
Let's personalize your content