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Home Equity Loans vs. HELOCs: A Beginner's Guide

Original link: https://www.youtube.com/watch?v=_73aZL2U6mA

A home equity loan (HEL) and a home equity line of credit (HELOC) allow you to borrow money against your home as collateral. These loans can be taken out to meet expenses such as home repairs and renovations, financing a new property or funding your child’s college education. It is a good idea to understand how these two loans work if you are looking to use the equity in your home. Whether you go for a HELOC or home equity loan Canada or anywhere in the United States, you should know the basics, advantages and disadvantages of these loans

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