HELOC Vs Home Equity Loan: How Do They Work?
Savings Corner
APRIL 4, 2024
Source: ICE Mortgage Technology February 2024 “Mortgage Monitor” report Pros and cons of a home equity loan Advantages You’ll have a fixed interest rate and predictable monthly payment. For example, peer-to-peer lender Prosper sets a 660 credit score minimum for HELOCS, vs. 640 for home equity loans. homeowners as of year-end 2023.
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