There are a few differences between refinancing and a home equity line of credit. One difference is that the interest rate on a refinanced mortgage is generally lower than the interest on a home equity line of credit.
Chat with our AI personalities
Answering "http://wiki.answers.com/Q/What_are_the_difference_between_line_of_credit_and_credit_limit"
A credit line is the maximum amount of money a lender is willing to lend to a borrower, while available credit is the amount of that credit line that has not been used.
A credit line is the maximum amount of credit a lender is willing to extend to a borrower, while a credit limit is the maximum amount a borrower can borrow on a credit card or line of credit.
FHA Streamline refinance is a business that operates online. You can apply for a refinance or simply for a line of credit based on the equity in your current home.
A credit access line is the maximum amount of credit a borrower can access from a lender, while a credit limit is the maximum amount a borrower can borrow on a credit card or line of credit.