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SMALL BUSINESS
| Type | Current | APR |
|---|---|---|
| $30K Home Equity Loan | 8.02% | 0.00% |
| $30K HELOC | 6.61% | 0.00% |
Home Equity Rates Provided by Bankrate.com
Compare Home Equity Loan Rates in Your AreaCompare HELOC Rates in Your AreaHome Equity Loan: The Basics
Before tapping into your home equity, make sure you know how home equity loans and home equity lines of credit (HELOCs) work.
- Home Equity Debt Basics
- Why Home Equity Loans & Lines Are Popular
- Ways to Use Your Home Equity Money
- Pros and Cons of Home Equity Debt
- How to Choose Between a Home Equity Loan or 'Line'
- What Home Equity Lenders Look For
- The Cost of a Home Equity Loan
- Refinancing a Home Equity Loan
- More Money Basics
Home Equity Calculators
Use these home equity calculators and tools to help you make the best home equity decision for you.
- Home Equity Loan or Credit Line?
- Home Equity Loan Decision Guide
- What Size Line of Credit?
- Home Equity Loan vs. Auto Loan
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Recent Mortgage Features
Tapping your home equity is not always a wise money move. And in some cases, it's always a bad move.
Home Equity Loan or HELOC?
A home equity loan is a one-time lump sum that is paid off over a set amount of time, with a fixed interest rate and the same payments each month. Once you get the money, you cannot borrow further from the loan.
A home equity line of credit, or HELOC, works more like a credit card because it has a revolving balance. A HELOC allows you to borrow up to a certain amount for the life of the loan -- a time limit set by the lender. During that time, you can withdraw money as you need it. As you pay off the principal, you can use the credit again, like a credit card.
· More Home Equity Loan vs. Line
