What is better, home equity loan or line of credit on home I own outright?
Written By: admin on May 22, 2009
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I just finished building my house and I have no mortgage or anything as I had enough cash to buy the land and build outright. But, I have no money left to landscape and have some medical bills I want to pay off. Can I get a home equity loan or line of credit on my house? Which is better?
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Tags: Home Equity, home equity loan, landscape, medical bills, money, mortgageTags: home equity loan, landscape, medical bills, money, mortgage
A mortgage would be your best bet when it comes to a lower interest rate.
Most banks have prepenalty payments on most of the equity type of loans. But the line of credits generally will not.
[...] News Sources wrote an fascinating post today onHere’s a quick excerptI just finished building my house and I have no mortgage or anything as I had enough cash to buy the land and build outright. But, I have no money left to landscape and have some medical bills I want to pay off. Can I get a home equity loan or line [...] [...]