MHV WHITE
 
Home Equity Loan or Home Equity Line of Credit?
 
Our quick quiz will help you determine which option is right for you.

Are you more comfortable with a fixed interest rate or a lower, but variable, rate?
Fixed rate, even if it's higher at first.
I'm OK with a variable rate, as long as it doesn't go too high.
Are you considering one big expense or several smaller projects or expenses?
Several smaller expenses or projects.
One large expense or project.
Do you want to have an emergency fund in addition to paying for this expense?
No, I'm all set with my savings.
I would definitely like a rainy day fund!
Do you anticipate any big expenses, such as home renovations or education costs, in the future?
I'm not sure, but it's possible.
No, this should be it.
Are you pretty good with not touching your Savings, or do you tend to tap into it now and then?
I never touch my Savings unless it's an emergency.
I tap into it for things like overdraft protection or if I'm short on cash.
Do you know exactly how much your project or expense will be?
I have a general idea, but nothing is really set in stone yet.
I have all of my quotes, and I've built in extra for surprises. My numbers are solid.
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