Home Equity Line of Credit
Use the equity in your home when and where you need it. This line of credit is convenient because it’s available on a moment’s notice.
- Smaller payments than a Home Equity Loan
- Interest only payment due monthly
- Variable rate
- Use money from your line of credit when and if you need it, and then pay it back. In contrast, a Home Equity Loan is received in full at the closing of the loan with monthly payments.