Everything To Know About Home Equity Mortgage
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When people talk about a home mortgage, they usually refer to a conventional mortgage which allows them to borrow money from a bank or financial institution to purchase a property. When you apply for a home equity mortgage, you will be able to borrow a fixed lump sum of money using your home as collateral. You will be able to repay the home equity mortgage at a fixed interest rate over a period of time that you and your lender decide beforehand.
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