Using Home Equity To — Buy A Second Home

: A revolving credit line that functions similarly to a credit card. You can borrow, repay, and borrow again during an initial "draw period" (often 10 years), usually paying variable interest rates.

: Because these loans are secured by your home, they generally offer lower interest rates than unsecured personal loans or credit cards. using home equity to buy a second home

There are three main ways to tap into your home's value for a second purchase: : A revolving credit line that functions similarly