Home Equity Loans vs. HELOCs
Two ways to access your home equity.Home Equity Loan
Lump sum, fixed rate, fixed payments. Best for one-time expenses like a major renovation.
HELOC
Credit line, variable rate, flexible draws. Best for ongoing expenses or when you want flexible access over time.
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Home Equity vs HELOC
Frequently Asked Questions
How much equity do I need?
Most lenders require 15-20% equity and combined LTV of 80-85%.
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