<ul><li>Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes.</li><li>HELOCs provide options for different financial needs: $100K for medium-sized projects, $250K for major investments, and $500K for substantial financing.</li><li>The repayment terms for home equity loans vary from 5 years to 30 years, offering different monthly payment options based on the borrower's goals.</li><li>Calculating home equity involves subtracting the mortgage balance from the property's current value, with lenders typically approving loans based on a certain loan-to-value ratio.</li></ul>

Latest HELOC & Home Equity Loan Rates: May 21, 2025

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