Find the Home Equity Product that Fits You Best

Equity Maximizer Visa from Bank of America

The Equity Maximizer Visa card allows you to access your home equity loan with a swipe of the card. You… Read More

5.0
1 Reviews

Home Equity Loan from Citibank

Home-equity loans offer fixed interest rates, so your monthly payments remain the same even if interest… Read More

5.0
1 Reviews

Home Equity Line of Credit from Washington Mutual

The WaMu Equity Plus Line of Credit provides you with the most versatile way of borrowing from your Home… Read More

5.0
1 Reviews

Prime Equity Line of Credit from Wachovia Bank

Wachovia Bank offers a Prime Equity Line of Credit that allows you to establish a flexible credit line… Read More

5.0
1 Reviews

Adjustable Rate Home Equity Loan from Wachovia Bank

Wachovia Bank's Adjustable Rate Home Equity Loan has lower initial monthly payments with initial… Read More

5.0
1 Reviews

Access 3 Equity Line from SunTrust Bank

SunTrust's Access 3 equity loan offers three repayment options. It can work like a revolving line… Read More

5.0
1 Reviews

Equity Flexline from Fifth Third Bank

Fifth Third Equity Flexline is a revolving line of credit secured by the equity in your home. You can… Read More

5.0
1 Reviews

Home Equity EssentialLine from Regions Bank

The equity in your home secures this flexible, renewable line of credit. Funds are available all at once… Read More

5.0
1 Reviews

Home Equity Loan from Sovereign Bank

Both online and at 750 branches throughout the Northeast, Sovereign Bank offers Home Equity Loans with… Read More

5.0
1 Reviews

FlexLock Home Equity Line of Credit from Sovereign Bank

Both online and at 750 branches throughout the Northeast, Sovereign Bank offers its FlexLock Home Equity… Read More

5.0
1 Reviews
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Home Equity Products

It’s possible to borrow money using your home as collateral via a home equity loan or a home equity line of credit.

Assuming you already got a mortgage in order to buy your place, a home equity loan is a second, smaller loan that you can use to spend money on other things (most commonly and sensibly, a renovation). These loans usually have 10-year terms and fixed interest rates. You get the money in one lump sum, and then pay it back over ten years (or sooner if you’d like, but watch out for prepayment penalties.)

Home equity lines of credit are structured a bit differently. Instead of getting a lump sum, you get a line of credit (like a credit card). You can use some or all of that line of credit, and you have it for several years. You only pay interest on the portion you actually borrow.

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