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What Is A Home Equity Loan In Southern California?

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A Home Equity loan is a loan for a set amount of money, that is secured by your home. If you're borrowing a lump sum of money at once, you'll repay the loan each month, just like you pay your mortgage. In general, home equity loans are available in amounts up to 85% of the equity in your home. However, it's worth noting that income, debt, credit, and market value of your home will ultimately be deciding factors in determining how much you can borrow through a Home Equity loan in Southern California.