Home Equity Loan Versus Line Of Credit: Pros And Cons

Hal M. Bundrick, CFP, NerdWallet.com
Mon, 08/03/2015 - 12:29pm

Selling your home for a profit can mean a substantial windfall. But in the meantime, while living there, that gain is locked up, out of reach — unless you access the equity with a loan or line of credit. A home equity loan, or a line of credit, is drawn on the value of your home above and beyond what you owe on your primary mortgage.

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