<ul data-eligibleForWebStory="false"><li>Home equity loans and home equity lines of credit (HELOCs) enable homeowners to access the value of their homes, with HELOC being a revolving line of credit and home equity loan offering a lump-sum fixed rate.</li><li>Borrowers can choose from different HELOC options based on the amount needed, ranging from $100K for medium projects to $500K for substantial financing needs with varying repayment terms like 5, 10, 15, 20, and 30 years.</li><li>Home equity signifies accumulated wealth based on the home's value owned by the homeowner, with options like HELOC or cash-out refinance available to leverage this equity for various financial needs.</li><li>Calculating home equity involves deducting the current mortgage balance from the home's appraised value; lenders typically approve loans based on loan-to-value ratio, with some requiring an LTV of 80% or less.</li></ul>

Latest HELOC & Home Equity Loan Rates: July 10, 2025

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