Home equity strategies revealed for ultimate financial growth
Home Equity Loans and Lines of Credit
One of the most common ways to access home equity is through a home equity loan or a home equity line of credit (HELOC). A home equity loan provides a lump sum at a fixed interest rate, making it ideal for large, one-time expenses such as home renovations or debt consolidation. In contrast, a HELOC offers more flexibility, functioning like a credit card with a variable interest rate and allowing you to borrow as needed up to a certain limit1.