HELOC Explained: How It Differs From A Home Equity Loan | NerdWallet

So, you may have heard of a HELOC, or home equity line of credit. You may even be considering one as a way to access cash from your home. In this video, NerdWallet's Kate Wood breaks down everything you need to know about HELOCs and reveals whether or not its a smart money move for homeowners.

NerdWallet Compare, Inc. NMLS 1617539

Suggested Articles:

Chapters:
0:00 - Intro
0:30 - What Is A HELOC (Home Equity Line of Credit)
1:53 - HELOC Interest Rates
3:06 - HELOC Variation
4:10 - HELOC Lenders
4:33 - How To Apply for a HELOC
6:34 - HELOC Draw Period

#NerdWallet #HELOC #CertificateOfDeposit

About NerdWallet:
We’re NerdWallet. And we’re not your typical finance company. We believe that everyone should be able to make financial decisions with confidence. We’ve built a team of Nerds with the knowledge, passion, and skills to make that happen. Thanks to our Nerdy experts, see side-by-side comparisons and objective reviews of the best credit cards, bank accounts, and so much more — so you can get even more financial clarity. It’s the smartest decision for all your financial decisions.

Disclaimer: This video is for informational and educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Any comments posted under NerdWallet's official account videos are not reviewed or endorsed by NerdWallet or representatives of financial institutions affiliated with the reviewed products unless explicitly stated otherwise. Avoid disclosing personal or sensitive information such as bank accounts or phone numbers. NerdWallet employees do not offer personalized financial advice and will not respond to posts here.

Connect with NerdWallet:

HELOC Explained: How It Differs From A Home Equity Loan | NerdWallet

[editsthepeople]

Thank you for breaking down the pros and cons.

[lavernesims]

Hello If I do a Heloc for upgrades and repairs prior to putting my home on the market for sale, can the HELOC be paid to close when my home is sold?

[hannahsimpson]

Hi, you mentioned you have a round-up of your top choices of lenders for HELOC's. Where can I see that list?

[tmowasright]

Any recommendations on fixed rate first lien heloc?

[chadbailey]

Amazing value provided here. Thank you 🙌🏾

[betterhomesnc]

Do you guys know of anyone other than PenFed that does HELOC's on investment properties?

[RetrieverTrainingAlone]

HELOC interest rates are substantially higher than conventional mortgage rates.

[hasbulla]

Why do you have XBOX games sitting behind you. Every time you talk ma’am I just see Halo 3 and call it duty. You lose credibility ma’am