While we try to offer a extensive range of provides, Bankrate doesn’t embrace information about each financial or credit product or service. A home fairness line of credit, or HELOC for brief, allows homeowners to borrow cash in opposition to the amount of equity that they’ve built up in their real property holdings. As with other kinds of home improvement loans, you probably can put it to use to fund various home repairs and upgrades. If you choose to take out a home equity line of credit, you’re basically taking out a sort of second mortgage.
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