06/10/2026
Mortgage Term of the Day:
A home equity loan is a lump-sum loan you take out using the equity in your home as collateral.
🔹 Fixed interest rates and payments
🔹 Great for large expenses like renovations or debt consolidation
🔹 Borrow a set amount and repay over a fixed term
💡 Tip: Unlike a HELOC, this loan gives you the money all at once—not a revolving credit line.
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