Compare Home Equity Loan Rates Lower Monthly Payments
Real-World Examples
Many homeowners have successfully reduced their monthly payments by refinancing with a home equity loan at a lower rate. For example, a homeowner with a $200,000 mortgage at a 5% interest rate could save over $150 per month by refinancing to a 3.5% home equity loan. This not only reduces monthly expenses but also frees up cash for other financial goals4.