How is a HELOC different from a home equity loan?
A HELOC is a revolving line of credit, while a home equity loan provides a lump sum payment with fixed monthly payments. HELOCs offer flexibility in borrowing and repayment.
Author: Boychuk Mortgage Group |
A HELOC is a revolving line of credit, while a home equity loan provides a lump sum payment with fixed monthly payments. HELOCs offer flexibility in borrowing and repayment.