Real Estate Lending Focused on You: Home Equity vs HELOC

Real Estate Lending Focused on You: Home Equity vs HELOC. Mortgage/HELOC

Real Estate Lending Focused on You: Home Equity vs HELOC video duration 1 Minute(s) , published by Knoxville TVA Employees Credit Union on 18 04 2019 - 12:39:05.

Knowing the difference between a Home Equity Loan and a Home Equity Line-of-Credit can be confusing
We want to help explain the difference so you can Once again, you have more money than you think
If you don't have cash or money in your credit cards, you can turn your home or rental into a cash cow! In this .

In this Mortgage Minute Monday I cover 5 things you should know about a refinance, home equity line of credit and a home equity loan
If you have any Pay Off Your Mortgage & Debt in 5 to 7 Years: https://www.youtube.com/watch?v=TWh5vBa-jhM In this video, we're covering something that we should have

Knowing the difference between a Home Equity Loan and a Home Equity Line-of-Credit can be confusing. We want to help explain the difference so you can make the best decision for you and your goals.
You can use your home’s equity through a HE or HELOC. So what’s the difference? Home equity loans allow you to borrow a fixed amount over a specific period of time. It is very similar to a mortgage and often referred to as a second mortgage. A HELOC is a revolving line of credit instead of a one-time lump sum. A maximum line-of-credit will be determined to allow you to draw and spend any amount, at any time, for any purpose up to the set limit of the HELOC. Interest accrues only on the amount you borrow or draw making it much more affordable.
Whether you’re considering a HE or a HELOC, remember you are using your home’s equity as collateral. For more information, visit tvacreditunion.com/realestatelending or call 865-544-5409!

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