When taking out a home loan, borrowers must decide between a variable or fixed interest rate. A variable rate loan has an interest rate that can fluctuate with market conditions, while a fixed rate loan has an interest rate that remains the same for the life of the loan. Variable-rate …
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Ultimate Guide: Fixed vs. Variable Home Equity Loans
Home equity loans are secured loans that are backed by your home equity. This means that if you default on the loan, the lender can foreclose on your home and sell it to recoup their losses. Home equity loans can be either fixed or variable rate. Fixed-rate home equity loans …