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What is a home equity line of credit?

A home equity line of credit is a form of revolving credit in which your home is used as collateral.

What is home equity?

Home equity is the difference between the market value of your home and the amount you have paid towards that value.

Do I have to wait a certain period of time before I can refinance?

No, there is no certain required waiting period when it comes to refinancing. You may even refinance more than once in a matter of months.

What is a lien holder?

A lien holder is the institution (usually a bank) that has the right to take and hold or sell the property of a debtor as security or payment for a debt borrowed from them.

If I have already refinanced my home or vehicle once, can I do it again?

Yes, you can refinance your home or vehicle more than once and it may be very wise to do so if interest rates are steadily falling.