Home Equity Loan or Line of Credit?

Home Equity Payment Summary

Home Equity
Loan Payment
Initial Home Equity
Line of Credit Payment

Home equity lines of credit often have more flexible repayment terms than a standard home equity loan. Home equity loan payments are typically fixed over the repayment period, while home equity lines of credit can offer interest-only payment terms or outstanding balances can be repaid using a variety of repayment strategies.