Tag Archives: heloc payment terms

will i owe a balloon payment

Understanding the HELOC: Will I Owe a Balloon Payment?

A HELOC is a loan that’s set up as a line of credit, that’s backed by your home as collateral. It can be drawn from up to a certain dollar amount and has a “draw period” where you use it like a checking account. It also has a repayment period, usually lasting 10 to even […]

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