posted April 28, 2020 in Articles
If spring cleaning also means home renovation, you'll want to look into a home equity loan (HEL) or home equity line of credit (HELOC). With both, you're borrowing against the equity in your home, and you'll pay much lower rates than with other types of financing. There are origination fees, and you'll want to be sure to keep up the payments. Just like defaulting on a mortgage, failure to pay back a home equity loan can cost you your house.