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. HELOCs (home equity lines of credit) come with variable interest rates and fluctuating monthly payments (like credit cards). homeowners as of year-end 2023.
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