Understanding the difference between a home equity line of credit and home equity loan


When Christel Ventura wanted to build a pool in her backyard, she chose to take out a home equity line of credit (HELOC) to help cover the costs. As the assistant vice president of consumer lending for GTE Financial in Tampa, Ventura was well aware of the differences between home equity loans and HELOCs, as well as the special introductory interest rate GTE was offering on its HELOCs.

“When I did the line of credit, it was interest-only and a 1.99 percent interest rate for the first 12 months,”…

Previous Texas financial company to acquire parent of Bank of New Mexico
Next Inside the market strategy of CenterState Bank’s Hillsborough president

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *