Home equity loans and HELOCs allow homeowners to access the value of their homes through fixed-rate lump-sum loans or variable-rate lines of credit.
HELOCs come in different amounts like $100K, $250K, and $500K, offering flexibility for various financial needs and projects.
Different term lengths, such as 5, 10, 15, 20, and 30 years, are available for home equity loans, each catering to different borrowing preferences and goals.
Building home equity is essential for long-term financial health, as it contributes to increasing net worth and overall wealth accumulation over time.