Finance charges on HELOCs: Understanding the Costs Involved
Overview of HELOCs and Finance Charges Home Equity Line of Credit (HELOC) is a type of loan that allows homeowners to borrow against the equity in their homes. Unlike traditional loans, HELOCs provide a revolving line of credit that can be used as needed, similar to a credit card. Differences Between HELOCs and Other Loans…