A home equity loan allows you to borrow against the equity in your home. Learn how home equity loans work and how much you could borrow.

A home equity loan allows you to borrow money by using your home's value as collateral for the loan. Here's a step-by-step look at how these loans work. Skip to Main Content ...

Lenders typically want to see 15 to 20% in home equity before approving you for a home equity loan. To illustrate, if your home is valued at $375,000, your mortgage balance should not exceed $300,000.

If you’ve been thinking about paying off credit card debt or remodeling your kitchen, you might be wondering how to afford it ...

A home equity loan is a one-time lump-sum loan against your equity that you pay back in monthly payments, usually over 10 to ...

Taking out a home equity loan can be smart, but is it risky to take out if you have debt? Here's what to consider.

Say you have an existing home equity loan worth $50,000, your home is worth $400,000 and you have a balance of $200,000 remaining on your first mortgage. Your debt totals $250,000.

What Is a Home Equity Loan and How Does It Work? A home equity loan is where you borrow from the equity you’ve built in your home. Equity is based on your home’s current market value minus the ...

A reverse mortgage is a type of loan that allows homeowners ages 62 and older to borrow against their home equity, using their home as collateral. The loan amount you’re approved for is based on ...

Home equity loans and HELOCs — home equity lines of credit — are examples of second mortgages. How second mortgages work When you get a first mortgage, you use the money to buy a home.

The loan balance becomes due in full at the end of the loan term or sooner if the borrower sells the home. Mortgage terms are usually 10 years but can be up to 30 years.

Home equity loans are always offered at a fixed rate. However, ... Her work has been featured in outlets such as MarketWatch, Yahoo Finance, MSN and Nasdaq.