Home Equity Loan or Line of Credit?

Home Equity Payment Summary

Home Equity Loan Payment
Initial Home Equity Line of Credit Payment

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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.