<ul><li>Home equity loans and home equity lines of credit (HELOCs) offer homeowners a way to access the value of their homes through different borrowing options.</li><li>HELOCs come with variable rates and provide a revolving line of credit based on the home's value, while home equity loans offer a fixed rate and lump-sum borrowing up to 85% of the home's value.</li><li>Different loan amounts, such as $100K, $250K, and $500K HELOCs, cater to various financial needs, with options for repayment terms ranging from 5 to 30 years depending on the borrower's requirements.</li><li>Understanding home equity is crucial as it represents accumulated wealth. Borrowers can tap into home equity through loans like HELOCs and cash-out refinances, using their property as collateral for secure borrowing.</li></ul>

Latest HELOC & Home Equity Loan Rates: May 5, 2025

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