<ul><li>Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes.</li><li>A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home’s value and pay that amount back in monthly installments.</li><li>A home equity line of credit is a variable-rate second mortgage that draws on your home’s value as a revolving line of credit.</li><li>Your equity in your home comes from how much you’ve paid on your mortgage. The longer you’ve been paying off your mortgage, the more equity you have. You can tap into that equity through a home equity loan.</li></ul>

Current HELOC & Home Equity Loan Rates: December 6, 2024—Rates Are Mixed

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