A home equity loan is a lump sum of money, received all at once to cover a large expense – like home improvement projects. Compare that to a home equity line of credit, which works more like a credit card.
When borrowing against your home equity, consider whether a continuing source of funds (home equity line of credit) or lump sum (home equity loan) will best help you achieve your goals.
Tap into the equity in your home when you need to with a reusable line of credit.
Cash out and make the most of your home's value with a single large loan.
Learn about using Home Equity Loans and HELOCs.
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