Finance
A home equity loan differs from a HELOC in that:
AA home equity loan is a revolving credit line
BA home equity loan is a lump-sum loan with a fixed repayment schedule✓ Correct
CA home equity loan has no interest
DA HELOC provides a lump sum at closing
Explanation
A home equity loan is disbursed as a single lump sum with a fixed interest rate and set repayment schedule. A HELOC is a revolving line of credit that can be drawn on and repaid multiple times.
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