Guide to Home Equity Loans and Home Equity Lines of Credit

HOME EQUITY RATES

FOR PERSONALIZED QUOTES

L O A D I N G

This five-part guide to home equity loans and home equity lines of credit explains how to build, use and access the equity in your home. We'll teach you how these products work (and can work for you), review risks and rewards, discuss fees and prepayment penalties and give you a solid working knowledge so that you can shop confidently for the product and terms that will best suit your needs. If you're a novice, we recommend reading through the guide from section to section, but if you're a little more experienced, you can jump from part to part as you like. However, it's always a good idea to start from the beginning…

Home equity borrowing basics

Home equity borrowing basics

In this section of HSH.com's guide to home equity, readers gain an understanding of what home equity is, how it is created and how to build it. We'll take a look at smart (and not so smart) ways to use this valuable resource and dig into how much home equity you'll typically be allowed to use.

• What is home equity, and how is it built?

• How can I use my home equity?

• How much of my home equity can I borrow?

Home equity borrowing terms

Home equity borrowing terms

Section two of HSH.com's guide to home equity loans and (HELOCs) covers borrowing options and choices. Readers will gain an understanding of home equity loan and line terms and learn about the key differences between these products.

• How do I get access to my home equity?

• Common home equity loan and HELOC terms and conditions

• Special or unique home equity loan and HELOC terms

Home equity borrowing costs and risks

Home equity borrowing costs and risks

After outlining home equity borrowing basics and informing readers of their home equity borrowing options, this section explains the costs a homeowner will likely incur when borrowing home equity, and discusses the risks of leveraging one's home.

• What affects the rate I get on my home equity loan or HELOC?

• What does it cost to get a home equity loan or HELOC?

• Is borrowing home equity risky?

Shopping for home equity loans or lines

Shopping for home equity loans or lines

Armed with an understanding of home equity borrowing options and risks, it may be time to begin researching which loans or lines are the best fit for your circumstances. The final section in HSH.com's home equity guide supplies a list of items that should be explored when shopping for your loan or HELOC.

• How do I shop for a home equity loan or Home Equity Line of Credit (HELOC)?

Home Equity Calculator
& Future Home Equity Projector

Home Equity Calculator
& Future Home Equity Projector

Home equity is built by paying down your mortgage and by what happens to the value of your home. Use this simple calculator to estimate how much equity you have in your home and how much of it a lender might allow you to borrow.

KnowEquity Tracker and Projector will also let you discover when you'll reach a desired equity goal, and can even reveal the combination of property price appreciation and prepayment you'll need to hit specific future equity goals.