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home equity loans come in two types: the standard home equity loan and the home equity line of credit, or HELOC. With a standard home equity loan, you borrow a certain amount of money and repay it over a specified period of time.

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General Electric Credit Union – Borrowing – Home Equity – With a home equity loan or line of credit (also known as a second mortgage), you can borrow up to 80% of your home's equity and use the funds for any.

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Home Equity Loans | Sound Credit Union – On average, home equity loans offer lower rates than personal loans, student loans, or credit cards. Easy Access to Funds Access your line of credit with your Equity credit card and checks.

Mortgages vs. home equity Loans . Mortgages and home equity loans are two different types of loans you can take out on your home. A first mortgage is the original loan that you take out to purchase your home.

Home Equity Loans – Find Out How to Use Your Equity – A home equity loan (hel) lets you borrow a fixed amount, secured by the equity in your home, and receive your money in one lump sum. Typically, home equity loans have a fixed interest rate, fixed term and fixed monthly payment. Interest on a home equity loan may be 100% tax deductible (please consult your tax advisor to see if you qualify).

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Wells Fargo home equity lines of credit let you use the equity in your home when and how you need it. Apply online today!

The following discounts are available on a new home equity line of credit: (1) an "auto pay" discount of 0.25% for setting up automatic payment (at or prior to HELOC account opening) and maintaining such automatic payments from an eligible Bank of America deposit account; and (2) an "initial draw" discount of 0.10% for every $10,000.