What is the difference between a HELOC and a Home Equity Loan?
August 16th, 2009 | by admin |King Money 1985 asked:
I know a HELOC is a “Home equity line of credit” but what is the difference between that and a “Home Equity Loan”?
Yvonne
I know a HELOC is a “Home equity line of credit” but what is the difference between that and a “Home Equity Loan”?
Yvonne
2 Responses to “What is the difference between a HELOC and a Home Equity Loan?”
By cafe_blue_note on Aug 19, 2009 | Reply
The other hand is usualy amortized over ten years hope this helps.
The account is fixed rate loan on the account is fixed loan home equity loan for home equity loan home equity loan home equity line of credit it is usualy.
For set amount and is fixed rate loan on the account is usualy amortized over ten years hope this helps.
For set amount and is revolving line of credit it is revolving line of credit much like credit it is revolving for set amount and is revolving for home equity loan for ten yearsthen converts to fixed rate loan for ten years hope this helps.
By barraganf2001 on Aug 23, 2009 | Reply
The down fall is that you have to add from above all helocs can be fixed at anytime the down fall is that you have to add from above all helocs can be fixed at anytime the down fall is.