Fixed Rate Types of Home Equity Loans

Fixed Rate Types of Home Equity Loans..

Fixed Rate Types of Home Equity Loans are one time lump sum that is equivalent
to the collaterals value. Why lump sum? As opposed to the Line of Credit Type of
Home Equity Loans (which we will discuss shortly), fixed rate type allows the
applicant to have a lump sum (as much as $100,000) to be issued which is then
repaid over a set amount of time.

The payment and the interest rate remain constant over the span of the loan
contract. Therefore, until the loan is repaid, no loan shall be entertained.

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