Secret Home Hack Frees Cash for Exciting Adventures
How Home Equity Loans and Lines of Credit Work
Home equity loans and home equity lines of credit (HELOCs) are two popular methods to access the equity in your home. A home equity loan provides a lump sum of money with a fixed interest rate, making it ideal for those who prefer predictable monthly payments. On the other hand, a HELOC operates more like a credit card, allowing you to borrow as needed up to a certain limit, with variable interest rates2. Both options can offer competitive rates compared to personal loans or credit cards, potentially saving you money on interest.