HOME EQUITY
Home Equity Loan
One amount of money. A set repayment plan.
This loan lets you borrow against some of the value you have built in your home. You get the money in one lump sum and repay it over time.
- Get the money all at once
- Often has a fixed rate and steady loan payment
- May let you keep your current first mortgage
Good to know
This adds a loan payment. Your home backs the loan. Missed payments can put your home at risk.
What should I have ready?
Your home’s value, what you owe, and how much money you need.
Loan options depend on your state, property, and lender rules. Credit, documents, and approval are required.