What Is The Difference Between A Second Mortgage And A Home Equity Line Of Credit

Second Mortgage vs. Home Equity Loan – U.S. Bank A second loan, or mortgage, against your house will either be a home equity loan, which is a lump-sum loan with a fixed term and rate, or a HELOC, …(1) A home equity loan is a fixed-term loan granted by a lender to a borrower based on…