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Archive for May, 2019

home equity vs heloc

HELOC vs. Home Equity Loan: Which Is Right for You?

access_time Posted on: May 28th, 2019

If you’ve been making payments on your mortgage, you have likely built up equity in your home. Not only does that mean you’ve paid off a portion of your house, but the equity may also be used as a resource when you need it. There are two ways to use your home’s equity to your advantage:    Getting a home equity line of credit, or HELOC    Borrowing a home equity loan But which one is best for you? To start, it depends on your unique situation and your goals. HELOC vs. Home Equity Loan Comparison In order to understand the differences, along with the pros and cons of each, let’s compare… read more »