Which Is Better: Home Equity Loan or Line of Credit?

Written by True Tamplin, BSc, CEPF®

Reviewed by Editorial Team

Updated on March 09, 2023

Whether a home equity loan or line of credit is better for you depends on a few factors:

  • Do you know how much money you need or are you unsure?
  • What are you using the money for?
  • How long will you need the money for?
  • How will you pay your debt back?

Which Is Better: Home Equity Loan or Line of Credit? FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.

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