Sentences with phrase «lump sum loan»
Because a HELOC lets you borrow money at a moment's notice, it's much more flexible than a traditional lump sum loan.
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Second mortgages are lump sum loans with fixed interest rates and fixed payment terms.
They are different from home equity loans in that you can draw money as you need it rather than taking out a single lump sum loan.
You can either apply for a revolving line of credit (home equity line of credit) or a one - time lump sum loan using your home equity as collateral.
Unlike a traditional lump sum loan, a HELOC gives you access to a line of credit up to a certain limit with your home acting as collateral.
If it's all too much, consider a straight home - equity loan, in which you'll get an immediate lump sum loan at a set interest rate and a date - certain payoff.
Although second mortgages and home equity loans are usually lump sum loans for a fixed period of time, depending on the type of loan you choose, the interest rate can be either fixed or variable.
Home Equity Consumer Loan, which is a fixed - rate, lump sum loan that provides you with the precise amount of money you need at this moment.
Two ways to tap into your home equity are: a home equity line of credit (HELOC) or a lump sum loan against which you make monthly payments.
A home equity loan, sometimes called a second mortgage, is a lump sum loan based on the equity you've built up in your home.
However, instead of a lump sum loan, the borrower can borrow what they need up to the determined credit limit.
A home equity loan is a lump sum loan with a fixed interest rate, while a line of credit works like a credit card with a variable interest rate.
This may take the form of a lump sum loan payout, or it may take the form of a line of credit, often known as a «Home Equity Line of Credit.»
A home equity loan is a lump sum loan that you take out with your home as the collateral.
A lump sum loan is paid off via a slight increase in normal levies each month and this does reduce the complications of raising large sums of money from the owners of units.