• A Home Equity Line of Credit is a revolving personal line of credit that lets you borrow again and again. 
• A Home Equity Loan lets you borrow a specific amount for a specific time

The other difference is why you need the funds:

• A home equity line of credit empowers you to use funds when you want, for whatever reason and it eliminates the need to apply for a loan every time you need money. 
• A home equity loan is ideal if you need a set amount of money for a specific purpose.  It offers the security of equal monthly payments with a fixed interest rate, and the comfort of only borrowing what you need.

Reasons Are Clear
More people are choosing home equity financing for their borrowing needs.  The reasons why are clear:

• Applying is easy and takes little time.
• Interest rates may be lower than other forms of credit.
• The interest you pay may be tax deductible. (Consult a tax advisor regarding the deductibility of interest.)
• The money can be used for many purposes.

To find out more about home equity financing or to Apply/Refinance: