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Home Equity Loans Offer Significant Savings Compared to Credit Cards and Personal Loans
Currently, home equity loans average 8.4% interest, significantly less than credit cards (23%+) and personal loans (12%+), offering substantial savings due to lower lender risk; a \$50,000, 10-year home equity loan at 8% costs \$22,800 in interest versus over \$36,000 for a similar personal loan.
Home Equity Loans Offer Significant Savings Compared to Credit Cards and Personal Loans
Currently, home equity loans average 8.4% interest, significantly less than credit cards (23%+) and personal loans (12%+), offering substantial savings due to lower lender risk; a \$50,000, 10-year home equity loan at 8% costs \$22,800 in interest versus over \$36,000 for a similar personal loan.
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