Brilliant how to use a home equity loan to pay off mortgage
Using your home to guarantee a loan comes with some risks, however. Home equity loans can provide access to large amounts of money and be a little easier to qualify for than other types of loans because you're placing your home as collateral. You've most likely heard both these terms tossed around and sometimes used interchangeably, but they're not the same. You can take a lump sum of cash up front when you take out a home equity loan and repay it over time with fixed monthly payments.
Can You Really Pay Off Your Mortgage Early with a HELOC?
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