What is a Home Equity Line of Credit?
- professor566
- Mar 13, 2024
- 1 min read
A Home Equity Line of Credit or HELOC is a line of credit that allows homeowners to borrow against the equity in their home. The interest rate on a HELOC is usually variable, and borrowers can make minimum payments on the interest only.
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Today, I learned a new term for buying a home that is Home Equity Line of Credit. In which the company allows homeowners to borrow against the equity in their home.
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