Home equity

What is a Home Equity Loan?

A home equity loan is a type of loan that allows you to borrow money using the equity in your home as collateral. This means you can use the loan to finance various expenses, such as home improvements, debt consolidation, or major purchases.

Benefits of a Home Equity Loan

• Lower Interest Rates: Home equity loans often have lower interest rates compared to credit cards or personal loans.
• Flexible Terms: You can choose a repayment term that suits your financial situation.
• Tax Deductibility: In some cases, the interest on a home equity loan may be tax-deductible.