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Fixed 2nd Mortgage vs. HELOC

So, you need some extra cash to start a home remodel, or to pay off debt, or for another reason, and now you’re unsure which loan option would be better for you: a Fixed 2nd Mortgage or a Home Equity Line of Credit (HELOC). Which do you choose?

Before you make your decision, it’s essential to know the difference between the two loan types. Check out the diagram below to compare a Fixed 2nd Mortgage versus a HELOC.

fixed-2nd-mortgage-vs-heloc

No matter your choice, you can count on Yolo County’s #1 Best Credit Union to see you through. Schedule an appointment with a local representative to get started.

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To qualify for membership, you must live, work, attend school, or worship in Yolo County.

To apply for a Home Loan, you must qualify for membership, and the property location cannot exceed 50 miles outside of Yolo County, CA.

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