Question 1

What is a home equity loan?

Accepted Answer

A home equity loan lets you borrow a lump sum against your home’s equity and repay it with fixed monthly payments over a set term.

Question 2

How is a home equity loan different from a HELOC?

Accepted Answer

A home equity loan is typically a one-time lump sum with a fixed rate, while a HELOC usually works like a revolving credit line you can draw from over time.

Question 3

How much can I borrow with a home equity loan?

Accepted Answer

It depends on your home value, existing mortgage balance, and program limits. Many lenders cap the total loan-to-value. To get an accurate number for your situation, [apply online](/app).

Question 4

What can I use the money for?

Accepted Answer

Common uses include home improvements, debt consolidation, tuition, and major expenses. If you want to estimate payments, use our [mortgage calculator](/calculators/mortgage).

Question 5

Are home equity loan interest payments tax-deductible?

Accepted Answer

They may be if funds are used to buy, build, or substantially improve the home—rules vary, so it’s best to consult a tax professional.

Question 6

Is a home equity loan a second mortgage?

Accepted Answer

Often, yes—it’s commonly a second lien behind your primary mortgage, which can impact rate and approval. We’ll review your best structure when you [apply online](/app).

Home Equity Loan

Turn your home’s value into opportunity — tap into your equity with a fixed-rate loan that delivers cash in hand when you need it most.

Cash in Equity

Keep Your Rate

Fixed Payments

Flexible Uses

Less Stringent Credit

Respuestas reales. Personas reales.

Calcule y explore

Mortgage calculator

Refinance calculator

Amortization calculator

Preguntas Frecuentes

You’ve invested in your home – let it return the favor