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Compare Home Equity Loans

  Home Equity Line of Credit Home Equity Loan Home Improvement Loan - Unsecured Home Improvement Loan - Secured
What It Is

Borrow funds using the equity in your home

Borrow funds using the equity in your home Borrow money without using collateral Borrow money by pledging an asset (your home) as collateral
Key Benefits

Lowest home equity rate

Fixed monthly payments

Easy access to funds

Can be easier to get if you need to rebuild credit

Access to larger funds

A Good Option If You

Want flexibility to draw funds only when needed

Want money up front in a lump sum single payout

Want predictable monthly payments that stay the same

Need funds specifically for a home improvement project

Have a high credit rating

You need funds specifically for a home improvement project

Have lower equity in your home

Can Use It For

Home improvements

A new car 

Tuition

That big vacation

A second home

Medical bills

Debt consolidation

Home improvements

A new car

Tuition

That big vacation

A second home

Medical bills

Debt consolidation

Home improvements

Home improvements

APR

Intro APR for 6 months: As low as 1.99%

Variable APR after 6-month intro period: As low as 5.00%

10 Year Fixed: 5.655%

15 year Fixed: 5.857%

Fixed rate, terms vary: 6.534%

10 Year Fixed: 7.661%

15 Year Fixed: 8.366%

Closing Costs None Typically between $538 to $641 $140 processing fee Typically between $500 to $1,200
No Prepayment Penalties
No Annual Fee
Available Amounts Up to $25,000 Up to $250,000 (up to 133% of current value of your home)
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