Conesus Lake Local Real Estate Blog

Have you ever wondered what a Home Equity Loan is and how it works? I will explain in this article the different types and how they work. 

A home equity loan is basically a second mortgage on your home. It lets you convert the portion of your home that you own, your equity, into lump sum cash that you can use for major purchases like renovations, college or debt consolidation.  You use this equity portion of your home as collateral to the lender. So, let's say for example your home could sell...