Home Equity Loan or Line of Credit?
You’re ready to fix up your home and add to its value. But what makes more sense for you - a home equity loan or a home equity line of credit?
Home equity lines of credit often have more flexible repayment terms than a standard home equity loan. Home equity loan payments are typically fixed over the repayment period, while home equity lines of credit can offer interest-only payment terms or outstanding balances can be repaid using a variety of repayment strategies.