Key takeawaysA home equity loan is usually a fixed-rate lump sum based on the value available in your home. Home equity lines ...

Borrowing against your home might make sense in certain situations, such as to finance home improvements, but using your home ...

One major difference between Discover and Rocket Mortgage (aside from only the former listing its rates online) is that ...

Take credit cards, for example. Those short-term borrowing products currently have rates averaging over 21%. Personal loan ...

Yes — like a first mortgage, you can refinance a home equity loan. This makes the most sense if you can get a better rate now than when you took out the loan.

While home equity loan rates at 8.38% (on average) are higher than mortgage refinance rates at 6.80% for a 30-year refinance, home equity loans will allow you to keep your current mortgage rate.

If your home’s value has increased, for instance, from $350,000 to $400,000, and you have paid down your mortgage and previous home equity loan to a total outstanding amount of $200,000, you ...

In other words, your residence can be a key financial resource for your family. Buying and maintaining a home builds an ...

Generally, longer-term loans have higher interest rates. According to Ken Flaherty, senior manager of retail lending for ...

Unlike home equity loans, which add a second payment to your budget, you end up with one new mortgage payment that replaces your old loan’s payment. To qualify for a cash-out refinance, most ...

As mortgage rates stabilize around 7% in mid-2025, homeowners are reevaluating their options. Refinancing remains a powerful ...

If you have been in your home for a while, you might have to build up some equity. You might have looked around your house ...