What Is the Difference Between Home Equity and Mortgages?

Answer Home Equity Loans and Home Equity Lines of Credit are mortgage products offered by banks that can that occupy a first or second lien position on a home. Most home equity loans are portfolio loans t... Read More »

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What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »

What is the difference between a mortgage and a home equity loan?

Mortgages and home equity loans both use the value of your home to secure the loan. However, the functions of these loans differ.PurposeA mortgage is the original loan taken out to finance a home. ... Read More »

What Are 2nd Home Mortgages?

Second mortgages offer homeowners a way to take advantage of their home equity for any number of reasons. Although they have become popular as a method of consolidating debt, there are risks to fur... Read More »

Is taking out a home equity loan or refinancing a home better?

On One Hand: Cash-Out RefinanceA cash-out refinance is best if interest rates have fallen since you took out your mortgage. The cash-out refinance will lower the interest rate on the entirety of yo... Read More »