See your personalized home equity loan options from top trusted lenders.
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Explore a second-home purchase using your existing equityQuickly compare loan options through a simple processConnect with a lender suited to your plans
Quicken Loans website
Quicken Loans NMLS #167283; QuickenLoans.com, a LMB Mortgage Services, Inc. company NMLS #167283.
Access a lump sum while keeping your current mortgageRepay the separate loan with fixed monthly paymentsPut funds toward renovations, debt or other major expensesRocket Mortgage website
Rocket Mortgage, LLC NMLS #3030
Compare as many as five quotes through a lender networkExplore refinance options that let you take out cashOffers are subject to terms and conditionsLendingTree website
LendingTree, LLC NMLS #1136
Complete your HELOC application onlineConsider repayment terms of 10, 15, 20 or 30 yearsDraw again as you repay, within your agreement’s limitsloanDepot website
loanDepot.com, LLC NMLS #174457
Compare home equity loan and HELOC offersExplore options from multiple lending partnersReview rates with online tools and lender guidesBankrate website
Bankrate, LLC NMLS #1427381; BR Tech Services, Inc. NMLS #1743443.
A home equity loan lets you borrow against the value of your home minus what you still owe on your mortgage. You usually receive a lump sum and repay it over an agreed term, typically with a fixed interest rate and equal monthly payments. Your home secures the loan, so falling behind on payments could put it at risk.
A home equity line of credit (HELOC) lets you borrow up to an approved limit during a set draw period. You can use funds as needed under your agreement, and interest rates are usually variable. When the draw period ends, you repay the remaining balance according to the loan’s terms. Your home is collateral, so missed payments could lead to foreclosure.
Source: Federal Trade Commission
Lender marketplace
Quicken Loans website
Explore offers from a network of lendersFind providers matched to your borrowing needsCompare your options through an online processDirect lender
Rocket Mortgage website
Keep your existing mortgage and its interest ratePlan around fixed monthly loan paymentsReceive a lump sum for your planned expensesLender marketplace
LendingTree website
Compare up to five offers if you qualifyNo charge to use the comparison serviceNo obligation to accept a lender’s offerDirect lender
loanDepot website
Apply for a HELOC through an online processChoose from 10-, 15-, 20- or 30-year repayment termsMake further draws as you repay, within the loan’s limitsLender marketplace
Bankrate website
Compare both home equity loans and HELOCsReview offers from multiple lending partnersUse lender reviews and educational toolsA fair credit score may meet some lenders’ criteria, although credit is only one part of the decision. Providers also assess earnings, current debts, repayment history and the equity in your property. Review their requirements before submitting an application. Stronger credit can improve your chances of receiving more favorable terms.
Your property serves as security for both a home equity loan and a HELOC. Falling behind on the required repayments could therefore lead to losing your home. Read the repayment conditions carefully and check that the costs are manageable within your budget before proceeding.
A fixed rate remains unchanged on the covered balance for the period set out in the agreement. A variable rate follows a reference rate, so the interest charged and your payments may move up or down. Certain lenders offer the option to lock part of a HELOC balance at a fixed rate. Ask about availability and any charges for that option.