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Receive funds in lump sum
|
Make loan advances as
funds are needed
|
Interest on either type is typically tax deductible*
|
|
Borrow a specific amount
for a set period of time
|
Offers easy access for
unexpected expenses
|
Interest rates are generally lower
than other types of credit such as
personal loans or credit cards
|
|
Fixed interest rate
|
Variable interest rate
|
Funds can be used for many purposes
|
|
Regular monthly payments
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Fluctuating monthly payments
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Applying is quick and easy
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*Consult your tax advisor about the deductibility of home equity interest.