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'Traditional'
Home Equity Loan – With a traditional
home equity loan, you receive a one-time lump sum
of money, which you pay off over an agreed-upon
period of time. It's a fixed loan—your payments
and interest rate stays steady every month. |
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Home Equity Line of Credit
(HELOC) - A Home Equity Line of Credit
is a credit card secured by the equity in your home—but
that doesn't mean you can only use it for house-related
expenses—you can use it when and where you
need it.
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Contact
an F&M Mortgage Group consultant to find out
if a home equity mortgage is right for you.
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Advantages
and Disadvantages of a Home Equity Loan |
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Common
Uses of a Home Equity Loan |
