Real Estate Lending Focused on You: HE vs HELOC

Real Estate Lending Focused on You: HE vs HELOC. Mortgage Minute with Justin Brown HELOC vs Cash Out Refinance

Real Estate Lending Focused on You: HE vs HELOC video duration 30 Second(s), published by Knoxville TVA Employees Credit Union on 23 04 2019 - 17:38:42.

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

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 In part 2 of the Real Estate 2019 series where we follow along the process that goes into how to buy a house that will be used as an investment property / rental Mortage Minute with Justin Brown This week's topic is: HELOC (Home Equity Line of Credit) vs Cash Out Refinance and the Pros and Cons of each
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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!

(Starting Over) The Tune Peddler (Josh Molen).