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HELOC vs Home Equity Loan: The Ultimate Comparison
Рет қаралды 11,576
Күн бұрын
@DrFinancialLiteracy 3 ай бұрын
Awesome and stay blessed. Navy Federal has a 40 year HELOC. I just received a 30 year variable HELOC.
@MortgageSpecialistsLLCOmaha 3 ай бұрын
Thanks for the update
@quintalford3128 3 ай бұрын
yes thank you. I didn't even know it was a difference
@MortgageSpecialistsLLCOmaha 3 ай бұрын
You are quite welcome. I can share that most don't as well
@jorgediaz2923 Ай бұрын
Awesome video, very informative. For buying foreign property (for Airbnb purposes) which would you recommended?
@vanilla-vice 4 ай бұрын
Thanks for the informative video!
@MortgageSpecialistsLLCOmaha 4 ай бұрын
Anytime!
@DrFinancialLiteracy 3 ай бұрын
Awesome and stay bless.
@DrFinancialLiteracy 3 ай бұрын
I am trying to teach financial literacy to my community. I would like to be specific about what I am saying to them because of past experiences with capitalist and democratic systems. Some KZfaqrs are saying a HELOC is line of credit and not a loan. Question: Is a HELOC or HELOAN loans or lines of credit? I have seen them referred to as Second Mortgages which I am interpreting as a loan. In my recent document for my HELOC, the term loan occurs exceptionally more often than a line of credit or HELOC. Thanks in advance for your response to help my community to understand the US financial system.
@MortgageSpecialistsLLCOmaha 3 ай бұрын
Generally speaking a HELOC is a line of credit when terminology is used correctly. Here is no HELOAN word. But we use Home Equity Loan. Both HELOCs and Home Equity Loans are 2nd mortgages usually. All the lien is where it is placed. What order of liens. I see these words all used interchangeably but not necessarily correct
@patrickvega4893 Ай бұрын
You are risking your house! Don’t do it!
@brentrasmussen6581 Ай бұрын
There is always a pro and con to every financial decision. It's all about knowing ALL of your options to have the best one for your own financial strategy
@joelmartinez2278 Ай бұрын
Both bad ideas
@MortgageSpecialistsLLCOmaha Ай бұрын
We would disagree
@Tryp-j9d Ай бұрын
@@MortgageSpecialistsLLCOmahaBecause YOU are a SCAMMER!! Of COURSE you WANT to TRICK people into borrowing at MUCH HIGHER. INTEREST RATE!!!!
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