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How does equity work in your house 2024?
Home equity
work home
Questioner:Samuel Hernandez 2023-05-07 11:05:41
The most authoritative answer in 2024
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Oliver White——Works at the International Renewable Energy Agency, Lives in Abu Dhabi, UAE.
Home equity loans
work differently than traditional loans, acting as a line of credit. This means that the bank will approve to borrow up to a certain amount of your
home, but your
equity in the
home stands as collateral for the loan. The interest rates are lower than they would be with a credit card.
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