Get loan offers and compare home equity loan rates.
Tap the Power of Your Home’s Equity with Home Equity Financing
When you choose a home equity loan, you generally base your decision on your need for flexibility. If you want a large lump sum for debt consolidation, a vacation home or an investment, a home equity loan is probably your best bet. Budgeting is easier because you can get home equity loans with fixed rates and payments. If your need for cash fluctuates, a HELOC may work best. You only pay interest on the money you use, and you can draw on and repay your credit line over and over. Once you’ve decided which loan you want, it’s time to compare offers from lenders.
Need cash for home improvements, debt consolidation…anything? Try a Home Equity Loan. Our network of lenders can provide all types of home equity loans and versatile home equity lines of credit (HELOC).
Get cash from your home’s equity for any financial need:
- Consolidate your debt into one easy payment
- Make home improvements
- Pay for college
- Buy a car
Have a ready-to-use safety net for financial emergencies – In some cases, there are even tax benefits to having a home equity loan. A home equity line of credit is a way to access your home equity, which is the value of your home minus any mortgage balance. When you apply for a home equity loan, you can be approved for a specific amount of credit, which you can use for any purpose. A home equity line of credit is different from a second mortgage, where you get a loan for a fixed amount and have regular mortgage payments. Instead, a home equity loan can be used when you need cash, and is paid off based on how you use your line of credit.
You can compare offers from multiple lenders so you can shop for the best home equity loan rates, and find terms that meet your financial needs. Get more in-depth information on home equity loans in our guides section. If you’re considering selling, we have a great guide on selling your home that covers everything you need to know and prepare for.
There are several ways to turn home equity into cash, including cash-out refinancing, home equity loans and home equity lines of credit, also known as HELOCs. Each option is appropriate for specific needs. Cash-out refinancing works well when you can improve on the terms of your current mortgage. Home equity loans are right when you need a lump sum of cash for debt consolidation or a large purchase, and HELOCs are appropriate for continual cash needs like recurring college tuition. You should shop for home equity loans the way you do other mortgages if you want to be confident that you’re getting a good deal.