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Top Question:
What is a home equity loan or line of credit?
Best Answer:

A home equity line of credit (HELOC) allows borrowers to use equity in their home for a variety of financial needs. It works much like a credit card, but the loan balance is secured by the equity in your home. Based on the approved line amount, you can borrow as much or as little as you need. As the line is paid down, the amount available to borrow increases. Because the loan balance is secured by your home, rates are normally much lower than those offered on credit cards. Our friendly local lending experts are happy to visit with you about HELOC options that may fit your needs.

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