Discover Home Equity Options
For most people, your home is your greatest source of financial strength. Home equity can be used in so many ways, from home improvements to supporting short-term financial needs.
Home Equity Loan Features:
- You want to receive the loan as a lump sum.
- Fixed interest rate and monthly payments.
- Best option for one-time large expenses where you know the amount you need to borrow.
- Once you receive the lump sum, you cannot borrow further from the loan.
Home Equity Line of Credit (HELOC) Features:
- Revolving line of credit. Draw the amount you need based on the approved limit.
- Variable interest rate and monthly payments.
- Best option for ongoing projects or smaller expenses where the total amount is unknown.
- As you make payments, your credit revolves and you can reuse the funds in your line again.
Home Equity Loans
Home Equity Line of Credit
For rates, assumptions and full disclosures, visit our Daily Rate Page.