Please Explain What Is Home Equity Loan?
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A home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. ... Home equity loans are often used to finance major expenses such as home repairs, medical bills, or college education.
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A home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. The loan amount is determined by the value of the property, and the value of the property is determined by an appraiser from the lending institution.
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