Home Equity Loan

A Home Equity Loan is also known as a second mortgage and is good for covering one-time expenses.


Common uses for Home Equity Loans include remodeling kitchens and bathrooms or making large purchases such as new appliances or windows. 
You’ll receive a one-time lump sum upfront, secured by the equity in your home. The interest rate is fixed, so payments are consistent and predictable (great for your budget). Plus, choose a term that works for you, up to 20 years.

Questions about how to prepare before applying, next steps, and more? Visit Frequently Asked Questions.

 

You may also consider:


HELOC

Home Equity Line of Credit

Tap into the equity in your home for ongoing access to cash.

HILOC

Unsecured Home Improvement Line of Credit

Access funds less than $20,000 without using your home’s equity.


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