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What is an equity loan on a house, and how does it work?

What is an equity loan on a house, and how does it work?

A home equity loan allows you to borrow a lump sum against the value of your home. You'll then repay it over time with fixed monthly payments and a stable interest rate. Homeowners often use home equity loans to fund renovations, pay for education, or cover large expenses that would otherwise come with higher-cost borrowing. 📖 Learn more ...

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