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Contact
a Mortgage Service Professional 
For Mortgage Terms
From A-Z
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Home Equity LoanA home equity loan (term loan) is one large sum that is paid off over a period of time. Rates and payments remain constant (fixed rate), and once the loan is closed you can no longer borrow from that loan. A home equity loan typically has a lower rate than a HELOC and is used for debt consolidation and other single-purpose purchases. 125% home equity loans allow you to take out a loan for a value greater than that of your home. |
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