Easy Home Equity Lines When You Need Them
Home Equity Lines are a good way to use the equity in your home. A HELOC gives you a line of credit instead of a lump sum. It’s similar to using a credit card, and payments are usually minimal. Interest rates on HELOCs are usually variable and based on the prime rate.
Home equity comes in handy for major expenses, school and college fees, and home projects. Many lenders will even contribute money toward your closing costs as an incentive to set up an equity line.