Adding on a large addition or taking on a major renovation? A Home Equity Loan may be the best option for you if you’re planning on completing this project within a shorter period of time, but would like to pay off the expenses over time.
Completing smaller projects over a longer period of time? A Home Equity Line of Credit may be the best option for you, allowing you to keep the HELOC open as you complete different projects over a multi-year period. You’ll only pay interest as you take cash out, and you can pay back the money you take out over time.