What is a line of credit loan?

Answer A line of credit loan is when a financial institution gives you access to a certain amount that you can borrow at any time. Line of credit loans are usually secured by your home.FunctionWhen the ba... Read More »

Top Q&A For: What is a line of credit loan

Difference Between Line of Credit & Equity Loan?

When you need to borrow money, you may want to leverage the equity in your home to get a lower interest rate. Two options are home equity loans and home equity lines of credit. Both options offer l... Read More »

Who must sign an equity line of credit loan?

With a home equity line of credit loan (HELOC), the borrower or borrowers must sign the loan documentation; so must any co-signers who are guaranteeing the loan so the borrowers can receive approv... Read More »

Is a home equity loan or a line of credit better?

On One Hand: Home Equity Loan BenefitsHome equity loans are ideal for covering a significant expense such as a new car, or for consolidating credit card debt. The benefits of this type of loan incl... Read More »

Difference Between a Line of Credit & a Student Loan?

With the cost of a college education often above tens of thousands of dollars per year, students and their families look to many different sources of funding. Borrowing wisely can save thousands of... Read More »