More and more, smart consumers like you are borrowing against their home's equity as a way to invest to accumulate wealth... view our FREE REPORT “Your Mortgage Can Make You a Millionaire”
Home Equity Line vs. Home Equity Loan?
Both a home equity line of credit and a home equity loan are secured by the equity in your home. A home equity line of credit works like any other revolving line of credit, and is very similar to a credit card but at substantially lower rates. It's flexible, which allows homeowners to write checks or make purchases and withdrawals against the equity in your home on an ongoing basis.
Unlike a home equity loan, a home equity line of credit is tax-deductible and you have the option to pay interest only on the outstanding line amount to reduce your payment.
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