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13
Aug
Can You Take Out a Home Equity Loan on a Paid-Off House?

If your house is paid off and you need access to funding, you might be wondering if a home equity loan is an option for you. First, a home equity loan is a type of loan in which the borrower’s home serves as collateral for the borrowed funds. It is a secured loan that allows borrowers to […]

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30
Apr
HELOC vs Home Equity Loan: Which is Right for You?

Both home equity loans and home equity lines of credit can be useful tools for homeowners who need access to affordable financing. Home equity loans are usually fixed-rate loans paid out as a single lump sum, while home equity lines of credit work as a credit line with a variable rate and flexible withdrawals over time.

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31
Jul
Alternatives to Home Equity Loans and Home Equity Lines of Credit

If you are a homeowner and need some cash to make a big purchase, a home equity loan or home equity line of credit (HELOC) can be a great borrowing option. Both of these home equity products let you borrow against the equity you have already built up in your home. A home equity loan gives you a […]

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30
Jul
Second Mortgage vs. Home Equity Loan: Which Is Better?

If you are looking for a way to get some extra cash to pay off credit card debt, send your kids to college, take a big vacation, or renovate your home, you have probably found a second mortgage or home equity loan as an option. A “second mortgage” is a generic term that is used to […]

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28
Jul
Pros and Cons of Home Equity Lines of Credit

A home equity line of credit is a popular way for homeowners to get extra cash to pay off high-interest debt, make home improvements, take a big vacation, or send their children to college. Homeowners can access the equity they built up in their home over time. Lenders charge relatively low interest rates on a home equity line of […]

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27
Jul
Cash-Out Refinance vs. Home Equity Loan: Which Is Better?

If you are looking to access some cash from the value of your home, you have two types of loans to consider. A home equity loan is a second loan on your residence that allows you to borrow against the equity you have in your home. A cash-out refinance loan, on the other hand, lets […]

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