Which is better in 2022, a HELOC or a HELOAN?

===================== Video Description: Home prices continue to stay high in a lot of the US, but with rates also staying high, a lot of homeowners are nervous about refinancing to tap their equity. The good news is that there are options that will allow you to keep your low rate and still get cash out of your home. Two of these options are HELOCs and HELOANs. When it comes to picking one of these options, what you choose will depend a lot on what your goals or needs are for the money. For example, if you need a large chunk of money for a remodel, then a HELOAN might be the better option. But if you want to access money periodically, then you'll want to look at a HELOC. Another thing you should consider is the current rate environment. This matters because HELOCs usually have variable rates that can adjust several times a year. So if you're in a rising rate market, a HELOAN might be better since the interest rate is typically fixed. ===================== Give us a call today! 844-326-3305 Not ready to call? Text us! 385-257-3266 ===================== Want more from Low VA Rates? Like, subscribe, and follow us to stay connected with the latest VA home loan info. ===================== DISCLAIMER: Eric is not a licensed loan officer. All advice given is for informational purposes only. For more detailed information, please call in and ask to speak with a licensed mortgage loan originator. This video is not applicable to borrowers in the State of Washington. This video is not intended for residents or homeowners in the states of NY or MA.