Final answer:
Reda should consider the interest rate and closing costs when choosing a home equity loan.
Step-by-step explanation:
When deciding which home equity loan is best for her, Reda should consider two important factors: interest rate and closing costs. The interest rate determines how much Reda will pay in interest over the life of the loan. A lower interest rate means lower monthly payments and less money paid in interest. Additionally, Reda should also pay attention to the closing costs associated with the loan. Closing costs include fees such as appraisal fees, legal fees, and loan origination fees. It is important for Reda to compare the closing costs of different loans to find the most cost-effective option.
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