Home Equity Lines of Credit

Home equity loans are often their fixed rates right you take the loan out you have a fixed rate well there is another type of way that you can tap into your home equity and that's known as a home equity line of credit rather than having a finite fixed dollar amount. This is kind of like a slush fund you can use the equity in your home as a slush funds but be careful because with rising interest rates it could lead to lifestyle decisions we might be paying for for five years 10 years 15 years and all.