<ul><li>Home equity loans and home equity lines of credit (HELOCs) allow homeowners to borrow against the value of their homes.</li><li>A home equity loan is a fixed-rate, lump-sum loan that allows borrowers to repay the borrowed amount in monthly installments.</li><li>A home equity line of credit is a variable-rate second mortgage that provides a revolving line of credit based on the home's value.</li><li>Borrowing against home equity can be used for various purposes such as renovation projects, major investments, and long-term financial planning.</li></ul>

Current HELOC & Home Equity Loan Rates: January 23, 2025—Rates Are Mixed

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