Need money for a home renovation? You have 2 loan options to choose from.

Home equity loans and HELOCs — both of which are commonly called a second mortgage — allow you to borrow against the value of your home. Many people use home equity products to pay for remodeling projects or to consolidate high-interest debts. Home equity loans come with a fixed interest rate, fixed monthly payment, and fixed repayment timeline. This makes them a predictable option for borrowers who don’t like surprises. HELOCs, on the

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