Differentiating Home Equity Loan vs. Refinancing
You might be confused between which product to get and honestly what’s the difference?
Since we have already explored refinancing on another page in our site, we will be going over the key points on how Home Equity Loans are any different.
Home Equity Loans come in two product offerings: either a home equity line of credit (HELOC) or a second mortgage.
Say you wanted additional funds or liquid capital for an investment project or home improvements, but you have such a good deal on your current mortgage that you just don’t want to lose it, or what if you’ve signed a locked in program with your current lender and the penalties for breaking it are hefty; Home Equity Loans are designed to accommodate such scenarios.
We can discuss which option will be best suited for you, only other thing to do is to call.