Home Equity Loan or HELOC: What’s Smarter?

Thinking about tapping your home for cash? Right now, whether you grab a $100K lump sum (home equity loan) or open a $100K line of credit (HELOC), your monthly payments are nearly the same—just a couple bucks apart. But here’s the twist: HELOC rates can drop if interest rates fall, so you might save more down the road without refinancing. Plus, HELOCs work more like a credit card, so you only pay interest on what you use. If you’re eyeing a big project or want flexibility, HELOCs could be your move—just watch those rates! #HomeEquity #MoneyHacks #PersonalFinance #RealEstate