Home Equity Loans & Lines of Credit
With a home equity loan or line of credit, you can borrow against your home’s equity at a low rate. While both get you the cash you need, they have some key differences. Discover which option works best for you.
Apply NowHome Equity Loans vs. Lines of Credit
What’s best for you: a home equity loan or a home equity line of credit (HELOC)? Discover the features of each option.
| Home Equity Line of Credit (Interest Only) | Fixed Second Mortgages | |
|---|---|---|
| Description | Your monthly payment depends on how much you borrow and on the current interest rate (based on interest accrued during the billing cycle). | Payment is calculated based on the loan amount, interest rate and term (number of months) with a monthly principal and interest payment. |
| Rate Type | Variable rate (based on prime rate*) | Fixed rate for term chosen. Terms offered: 5-year, 10-year,15-year and 20-year |
| How You Borrow | Borrow what you need, when you need it | Loan amount requested is disbursed at closing. |
| Apply Now | Apply Now |
| Home Equity Line of Credit (Interest Only) | |
|---|---|
| Description | Your monthly payment depends on how much you borrow and on the current interest rate (based on interest accrued during the billing cycle). |
| Rate Type | Variable rate (based on prime rate*) |
| How You Borrow | Borrow what you need, when you need it |
| Apply Now | |
| Fixed Second Mortgages | |
|---|---|
| Description | Payment is calculated based on the loan amount, interest rate and term (number of months) with a monthly principal and interest payment. |
| Rate Type | Fixed rate for term chosen. Terms offered: 5-year, 10-year,15-year and 20-year |
| How You Borrow | Loan amount requested is disbursed at closing. |
| Apply Now | |
Evaluate a Home Equity Loan
Discover how much you can borrow against your home’s equity with our easy-to-use calculator. Whether you’re planning renovations, consolidating debt, or funding major expenses, our tool helps you make informed decisions.
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There are many advantages to homeownership, including the opportunity to build equity in your home over time. View our current rates.
Note: Prime is identified by The Wall Street Journal as the Prime Rate in its table entitled “Money Rates.” Contact us for more information.