Joanne Marie Tucker

Joanne Marie Tucker
Residential Mortgage Loan Originator

o: FAX817-329-3487

Home equity loan vs. Home equity line of credit

A home equity loan can be either of the following:

• A fixed rate mortgage
• An adjustable rate mortgage

A homeowner who requires more money in large amounts usually applies for a home equity loan. Some expenses that make a home equity loan useful are:

• Debt consolidation
• Home repairs
• Medical bills
• College tuition for family members

Is home equity loan tax deductable?

In most cases, the answer is yes, but before trying this it's good practice to always consult a tax advisor whilst being aware of the fact, tax deduction is not an unlimited feature.

Tax benefits of home equity loans
A home equity loan is also beneficial because the home equity loan rate charged is usually tax deductible, as the loan is used for its primary functions. You can use our home equity loan calculator to check what various home equity loan rates will mean for your monthly payments.

More information on home equity loans and rates
If you would like more information on home equity loan rates, and how to find the best home equity loan, please call me at 817-329-3487

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