HELOC Vs Home Equity Loan: How Do They Work?
Savings Corner
APRIL 4, 2024
A home equity loan is a secured installment loan that allows you to borrow a set amount against your equity at a fixed interest rate and repayment term. A home equity line of credit (HELOC) is also secured. So, defaulting on the monthly loan payments means the lender could foreclose your home. HELOC: What is it?
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