3 Easy Steps to a Home Equity Loan
Submit your application anytime you like. With no fee!
Get your funds.
Most home equity line closings occur in three weeks or less, so you'll have access to your funds quickly.
You're ready to make that big purchase, consolidate debt or start your home improvement project.
How does home equity work?
You can borrow funds using your home as collateral. The amount you can borrow is based on the equity you have in your home. Use the funds for major expenses such as a home addition, dream vacation or even debt consolidation.
|Home Equity Line of Credit||Home Equity Loan|
|Type||Revolving credit line (HELOC)||Fixed-term loan|
|Interest Rates||Variable interest rate as low as Prime; option to lock in rates; only pay interest on what you borrow||Competitive fixed interest rate stays the same for the length of the loan|
|Payments||Payments vary based on how much of the credit line you use||Predictable monthly payments that stay the same|
|Access to Funds||Access funds if and when you need them using credit checks||Immediate access to entire lump sum in a single payout|