Debt Consolidation

Custom Search
 

Debt Consolidation
Debt Relief
Mortgage
Credit
Bankruptcy
Refinance After Bankruptcy
Fixed vs Adjustable
How to Get
Own Your Home
The Real First
Finding Home Loans
Home Mortgage Loans
Poor Credit Mortgage
2nd Mortgage Loan
Bad Credit Home
Buying a House
Home Equity Loans,
Mortgage Refinance and
Real Estate Mortgage
Comparing Home Equity
Online Mortgage Refinance
Debt-to-Income Ratio --
Mobile Home Mortgage
How do You
Mortgage Insurance
Interest Only Mortgage
Understanding Reverse Mortgage
Understanding Mortgage Interest
Mortgage Refinancing
Mortgage Quotes
Home Mortgage Makes
Down Payments -
Home Loan Basics
Picking A Home
Adjustable Rate Mortgages
How To Find
Second Mortgage Sub
Finding the Lowest
Low Interest Rate
2nd Mortgage Loan
Sitemap
Debt Consolidation
Debt Relief
Mortgage
Credit
Bankruptcy
 
Benefits of a Fixed Rate Home Equity Line of Credit
by Carrie Reeder
A fixed rate home equity line of credit gives you easy access to low interest credit. It also provides you with stability, helping you know how much your rates will always be. The greatest savings can be seen over time if rates increase. So, even

A fixed rate home equity line of credit gives you easy access to low interest credit. It also provides you with stability, helping you know how much your rates will always be. The greatest savings can be seen over time if rates increase. So, even if you don't plan on using that credit line now, it may be a good idea to keep it open for the future.

Easy Access to Low Interest Line of Credit

With your home's equity as your collateral, you can qualify for low rates with a home equity line of credit. Compared to other sources of credit, you will find it hard to secure a better rate on credit, and interest paid is deductible from your taxes in most cases.

Unlike an equity loan, you can access your credit when you need it. Usually a debit-like card is issued to you from the lender. You can use it like a credit card.

Fixed Interest Rates Offer Long Term Stability

Fixed rates provide a borrower with stability, always knowing what their rates will be. This is especially good when rates are low. However, adjustable rates may initially be low. In some cases, rates can even drop.

Fixed rates are for those that want the security of a permanent rate. While not without risk, fixed rates can give peace of mind. Remember too that with most lenders you can either convert or refinance your line of credit to an adjustable rate in the future.

Long Term Savings with a Fixed Rate Line of Credit

For long term debt, a fixed rate can potentially see an interest savings for borrowers. By locking in a low rate now, you will see a savings if rates rise. Over the long term, this could save you some significant cash.

With a line of credit, you don't have to use it. So if rates are significantly low, consider opening an account to use in the future when/if rates are higher. You always have the option of closing the account if rates are high and opening one with lower rates.

Before applying for credit, be sure to compare both rates and fees to find the most competitive financing package.

Here are our Recommended Home Equity Lenders Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

 
The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Custer village Trenton Roseville borough Tusten town Forks township Black River Falls Montgomery Bevington city (pt.) Franklin Seaside Balance of New Madrid County Yonkers Emmitsburg town Millbury village Cologne Ash township Lyons Falls village Dutton town Folsom village Thornbury township Soler township Trenton Hayti township Haledon borough Key West township Walbridge village District of Columbia Appleby Savoy Hopkinton town USA UK Australia Canada Seychelles Sao Tome and Principe United Arab Emirates Myanmar (Burma) Myanmar (Burma) Yemen Montenegro Fiji Ireland Brazil Lanarkshire Flintshire Clackmannanshire Warwickshire Rutland West Sussex Rutland West Lothian Middlesex Durham District of Columbia (DC) Kentucky (KY) Puerto Rico (PR) New Hampshire (NH) Texas (TX) Tennessee (TN) North Carolina (NC) American Samoa (AS) Wisconsin (WI) Ohio (OH) Arizona (AZ) Puerto Rico (PR) Delaware (DE) Nevada (NV) Maine (ME) Georgia (GA) Minnesota (MN) Ohio (OH) Michigan (MI) Louisiana (LA)