|Line of Credit||Loan||Mortgage Refinance|
|Uses||Home improvements, tuition or education and unplanned expenses||Major home improvements, debt consolidation, and purchase of a recreational vehicle or car||Get cash out for home improvements, or other expenses|
|What you get||A flexible credit line with a variable rate that lets you borrow the money when you need it||A second-mortgage loan with a fixed rate, term and monthly payment that lets you borrow money in a lump sum||A new mortgage loan with a fixed rate, term and monthly payment that requires you to refinance your existing mortgage|
|How you pay it back||Minimum payments each month||Fixed payments that include interest and principal over a fixed time period||Fixed payments that include interest and principal over a fixed time period|
|Loan Term Options||Variable||Fixed term||Fixed term|
|What tax benefits you may receive||Interest may be up to 100% deductible1||Interest may be up to 100% deductible1||Interest may be up to 100% deductible1|
All BB&T mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry (NMLS), which promotes uniformity and transparency throughout the residential real estate industry.
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Loans, lines of credit and credit cards are subject to credit approval.
A $50 annual fee may apply for Home Equity Lines in the states of KY, IN, GA, AL and FL.
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