Tips for Refinancing Your Home Equity Loan and Understanding HELOC Costs

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Considering refinancing your home equity loan?** Here are five key things to remember: shop around for the best rate, consider your home equity and credit score, avoid overborrowing, and use the funds wisely. As for HELOCs, rates have dropped and monthly payments are relatively inexpensive. However, keep in mind that rates are variable and your home serves as collateral. Calculate your potential costs and only borrow what you can comfortably afford. **#homeequity #refinancing #HELOC

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