Home Equity Loans vs HELOC
As more and more homeowners look to use their home equity as an option for low-interest financing, it can be confusing to know if a Home Equity Loan or a Home Equity Line of Credit (HELOC) is the better option. Both are secured by your home and offer rates that are lower than unsecured loans or credit cards and may offer tax benefits depending on how the loan is used. Both can be good solutions to finance a variety of uses including home improvement, debt consolidation, major expenses (weddings, education, etc.), and refinancing. However, there are differences to understand so you can select the right option for you.
What is the Difference Between a Home Equity Loan and a Home Equity Line of Credit?
