Financial Planning

What Is a Home Equity Loan?

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What Is a Home Equity Loan?

What Is a Home Equity Loan? A home equity loan, also known as an equity loan, home equity installment loan, or second mortgage, is a type of consumer debt that allows homeowners to borrow against the equity in their homes. The loan amount is determined based on the difference between the home’s current market value … Read more

What is a Second Mortgage?

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 What is a Second Mortgage?

Understanding Second Mortgages and Home Equity Loans: A second mortgage, commonly referred to as a home equity loan, is a financial tool that allows homeowners to borrow money against the equity they have built up in their homes. Equity is the difference between the current market value of your home and the amount you still … Read more