March 11th, 2022 3:24 PM by Shawn Smith NMLS#863501
If you’re at all interested in using your home’s equity to access cash, then let us compare it to you.
There are two common ways to get cash from your home—a Home Equity Line of Credit (HELOC) or a cash-out refinance.
In the current environment, many people want to keep the great interest rate they already have on their home loan, so they automatically choose a HELOC over a refinance. But wait—there’s a big difference that can make the benefits hard to compare at a glance. HELOCs have adjustable interest rates, whereas most home loans are fixed.
If you’re interested in exploring your options more or you have questions about home financing, please reach out. I’ll be happy to help.
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