<ul><li>Home equity loans and home equity lines of credit (HELOCs) let homeowners access their home's value through fixed-rate lump-sum loans or variable-rate second mortgages, respectively.</li><li>HELOCs offer flexibility for projects with options like $100K, $250K, or $500K limits, each with different benefits based on borrowing needs and risk tolerance.</li><li>Different term lengths such as 5, 10, 15, 20, and 30 years cater to varying financial goals, offering options for quicker payoffs, balanced payments, or long-term affordability.</li><li>Building home equity involves property value appreciation and mortgage balance reduction, with borrowing against equity supporting major financial needs through HELOCs or lump-sum home equity loans.</li></ul>

Latest HELOC & Home Equity Loan Rates: May 22, 2025

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