Article: 10 Things To Look For In A Home-Equity Line Of Credit
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10 Things To Look For In A Home-Equity Line Of Credit
If you are a homeowner, you?ve probably received offers to apply for a home-equity line of credit (HELOC) loan. Handled with care, HELOC loans can be an excellent way to improve financial flexibility, provide readily available cash reserves for emergencies, or pay for large expenses (like college tuition or home improvements) that have irregular payment schedules. But be aware that not all home-equity credit lines are created equal. If you decide that a HELOC is right for you, what features should you look for? Here are ten things that should be at the top of your list:
1. No application fee (or fee should be refunded at closing ? The HELOC loan market is very competitive. Some lenders may charge a fee to help cover their costs of processing your HELOC application and to ens...
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