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| $30,000 home equity line of credit | | A $30,000 home equity line of credit is an open-ended loan, paid as revolving debt, that is backed by the portion of the home''''s value that the borrower owns outright. Interest paid on a home equity line of credit is usually tax deductible. The rates quoted on Bankrate are based on a $30,000 revolving, open-ended line of credit with a loan-to-value ratio of 80 percent. |
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