A Blog for a Bright Financial Future

piggy bank BUY & BORROW

How to Choose Between a Home Equity Loan or Home Equity Line of Credit (Video)

  • July 28, 2020
  • By Erin Palmer

    Erin Palmer

    Content Marketing Specialist

    Erin Palmer is a content marketing specialist for Suncoast Credit Union. She has written articles for numerous publications and websites, including the Chicago Tribune and Huffington Post. Erin is happiest when curled up with a book, trying a new restaurant or playing with her dogs.

    We’d love to hear your thoughts about the blog! Email us and share what you think.

One of the benefits of home ownership is that the equity in your home is there if you need it. So if you have home improvement projects or debt consolidation in mind, you can use the equity in your home to help get funding.

There are two options to use your home equity to get funding: a home equity loan or a home equity line of credit (HELOC). Each option is a loan that uses the equity in your home as collateral.

Before you decide which option is best for you, watch this video to learn about the differences between a home equity loan and a home equity line of credit.


Share This Article On:

Share to Facebook Share to Twitter Share to Twitter more...

Other Topics

Related Articles

Loading...

Related Articles

Loading...

Related Articles

Loading...

Related Articles

Loading...

Related Articles

Loading...

Related Articles

Loading...