Buying a house is a big deal, and figuring out money stuff can be confusing. This article is here to help, especially for people in Granada Hills, California.
Vic Markarian, a local real estate expert, wants to make things easier for you. He says understanding the difference between equity lines and equity loans is important. These are basically ways to use the value of your house to get money.
Equity line: Imagine a credit card for your house. You can borrow money as you need it, up to a certain amount. It's flexible, but the interest rate can change.

Equity loan: This is like a regular loan. You get a lump sum of money upfront, and you pay it back with a fixed monthly payment and interest rate.

Which one is right for you? It depends!
Equity line: Good if you need money over time, like for repairs or improvements.

Equity loan: Good if you know exactly how much money you need, like for a big bill or a new home.

Vic helps people make smart financial decisions about thei ...