Snap Up This Smart Financing With Home Collateral

Types of Home Equity Loans

There are two primary types of home equity financing: home equity loans and home equity lines of credit (HELOCs). A home equity loan provides a lump sum of money with a fixed interest rate, making it ideal for large, one-time expenses. In contrast, a HELOC offers a revolving credit line with a variable interest rate, allowing you to borrow as needed, similar to a credit card.