Home Improvements: Should You Use a HELOC or a Home Equity Loan?
Ublocal
JULY 7, 2023
To estimate your current home equity, subtract your mortgage balance (as well as any other home loans) from your home’s market value. HELOCs work like a credit card, where the borrower can access funds as needed, make payments towards the balance, and use the HELOC again. Consult with a tax professional before making a decision.
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