Secure the Best Home Equity Loan Fixed Rate Secrets

Factors Influencing Fixed Rates

Several factors can influence the interest rate you receive on a home equity loan. Your credit score is paramount; higher scores generally lead to more favorable rates. Additionally, the amount of equity you have in your home, the loan-to-value ratio, and the current market conditions all play critical roles. Lenders also consider your income and employment history to assess your ability to repay the loan.