<ul data-eligibleForWebStory="true"><li>Home equity loans and home equity lines of credit (HELOCs) enable homeowners to access the value of their homes.</li><li>Home equity loans offer a fixed-rate, lump-sum loan up to 85% of a home’s value, while HELOCs are variable-rate second mortgages using the home's value as a line of credit.</li><li>Both options require property as collateral, allowing lenders to seize the property if payments are not made.</li><li>HELOCs of different amounts, such as $100K, $250K, or $500K, cater to varying project sizes and financial needs.</li><li>Options like 5-year, 10-year, 15-year, and 20-year terms offer flexibility in repayment periods and monthly payments based on individual preferences.</li><li>Home equity signifies the portion of the home you own, with more equity indicating more accumulated wealth.</li><li>Utilizing home equity through loans, HELOCs, or cash-out refinancing provides access to funds based on home ownership.</li><li>HELOCs allow borrowing against a home's equity, providing funds in installments with interest payments on the amount used.</li></ul>

Current HELOC & Home Equity Loan Rates: June 13, 2025

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