How are home equity lines of credit different from home equity loans?
Compare your choices Home Equity Loan Home Equity Line of Credit Interest Tax deductible in most cases Tax deductible in most cases Interest rates Fixed Variable Access to funds Funds disbursed in a single check Electronic transfer of funds into the account of your choice. Equity Credit Line ATMS Checking accounts Payment options Fixed monthly payments Direct Payments from your checking account Flexible interest only or principal plus interest payment options available Direct payments from your checking account Top Can I get a home equity loan or line of credit on a rental property? Some lenders may offer home equity loans or lines of credit with the equity built up in rental property; however, Simmons First does not allow for you to use equity in rental properties except when specials are running. Top Will interest on my home equity loan or line of credit be tax deductible? This question is best answered by your tax advisor because he/she knows your specific tax situation. Currently,
