HELOC vs HELOAN: Which One is Better in 2024?
A HELOC (Home Equity Line of Credit) provides a revolving credit line, while a HELOAN (Home Equity Loan) offers a lump-sum loan. Both use your home’s equity as collateral, but they differ in disbursement and repayment terms. Understanding the differences between a HELOC and a HELOAN is crucial for homeowners considering leveraging their home equity….
