whats the difference in a home equity loan and a line of credit?

June 5, 2010 by
Filed under home equity loan

I know what a home equity loan is but not sure about a line of credit-which one would you recommend?

2 Responses to “whats the difference in a home equity loan and a line of credit?”

jim m says:

June 5, 2010 at 7:13 am

line of credit- percentage of what your worth, highly recommended no one can take away what you don’t have .
Krista B says:

June 5, 2010 at 7:26 am

A home equity line of credit (HELOC) is a revolving account, compared to a loan you take out against your house. In laymen’s terms, it’s a home equity “credit card” without the plastic card or the high interest, and the amount on your “card” is within the amount of equity you have in your home.

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Gary Rocks