What is an equity loan?

Answer A home equity loan, or second mortgage, will allow you to borrow money against the equity in your home. Homeowners can deduct interest on up to $100,000 when filing a tax return.TypesFixed-rate hom... Read More »

Top Q&A For: What is an equity loan

What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »

Home Equity Loan Vs. Auto Loan?

Homeowners have loan options when they want to purchase a car. For example, they may acquire an auto loan or use a home equity loan. However, it's best to weigh the benefits and drawbacks of each o... Read More »

What If I Can't Pay My Equity Loan?

When you take out a home equity loan, you sign a security agreement that enables your lender to place a lien on your home. You stand to lose your home if you fail to repay your home equity debt. Ho... Read More »

What is a home equity installment loan?

Home equity installment loans are commonly referred to as second mortgages. A homeowner secures the loan using the existing home equity without having to refinance the primary mortgage.AdvantagesA ... Read More »