When getting a home equity loan it’s important to compare mortgage rates and know the terms of various loans, as well as the difference between a home equity loan vs a line of credit. There are fees associated with all loans, so know all those fees and additional charges up front.
There is a specific difference between a home equity loan and a home equity line of credit (HELOC). A HELOC is a line of revolving credit with an adjustable interest rate whereas a home equity loan is a one time lump-sum loan, often with a fixed interest rate.
RSD Real Estate is located just east of downtown Fort Worth and we are ready to serve you.We hope this information will allow you to make a more informed decision. Contact us if we can assist you.
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