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Beemnseven · 06-08-2007, 07:29 AM

Is there any reason why you favor a Home Equity Loan over a Home Equity Line of Credit?

I recently got a HELOC and paid only $150 in closing costs. Plus, I don't start paying on it until I use it -- it's basically like a credit card. And the interest is tax deductable.

06-08-2007, 07:29 AM	#9
Beemnseven Pro Bowl Join Date: Feb 2004 Location: Virginia Beach Age: 51 Posts: 5,311	Re: Home Equity Loan Closing Costs Is there any reason why you favor a Home Equity Loan over a Home Equity Line of Credit? I recently got a HELOC and paid only $150 in closing costs. Plus, I don't start paying on it until I use it -- it's basically like a credit card. And the interest is tax deductable.