In this episode of pplpod, we dive into the world of home equity loans to help you understand how to leverage your property’s value. We explain the fundamentals of using home equity as collateral to finance major expenses like home repairs, medical bills, or college education. Tune in to learn the critical differences between a standard closed-end home equity loan and a Home Equity Line of Credit (HELOC), including how they differ in terms of interest rates and repayment flexibility. We also cover the financial fine print you need to know, from the potential fees involved—such as appraisal and originator fees—to the impact of the 2018 Tax Reform bill on interest deductions.
