If you’re having trouble deciding between a home equity loan vs a line of credit take a moment to consider what you need it for. A home equity line of credit works great if you need smaller amounts over a longer time whereas a home equity loan is good if you need a large sum up front. CM
If you’ve hit a tight spot and have a large expense to cover you may consider a home equity loan. Using your home equity you can use your home as collateral to borrow the money you need. Home equity loans aren’t free money and they do come with risks so choose carefully. CM
Building home equity is one of the many perks of home ownership. With sufficient equity you can qualify for a home equity loan if you have a large and or unexpected expense come up. Home equity loans aren’t free money and there are definite risks but they can be a huge help when the time comes. CM
Once you’ve built up sufficient home equity you will be able to use your home as collateral and take out a home equity loan. Home equity loans aren’t a bottomless well of free money but they are a viable option when the unexpected happens. CM
When deciding between a home equity loan vs a line of credit consider your financial needs carefully. If you just need extra money in installments the a home equity line of credit will work for you. If, however, you need one lump sum of cash up front then home equity loan is the best bet. Simple considerations…