Are Personal Loans Less Risky Than Home Equity Loans?

·3 min read

Personal loans let you borrow money for any purpose, but to snag an affordable rate on a personal loan, you generally need a strong credit score when you apply. On the other hand, if you own a home, you may be able to qualify for an affordable home equity loan, even if your credit isn't all that great. Like personal loans, home equity loans allow you to borrow money for any purpose.

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