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What is a home equity line of credit (HELOC)?
Posted : 28/04/2024 3:11 pm
A home equity line of credit (HELOC) is a line of credit that uses the equity you have in your home as collateral. HELOCs are credit lines secured by your home, they most frequently are issued as credit cards or as a checkbook. They have both a draw period and a repayment period. The draw period involves minimal interest-only payments, and the repayment period involves much higher payments.
Posted : 30/04/2024 10:05 pm