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HELOC vs. Home Equity Loan: How to Choose
Both borrow against your home. Here is how the payments, risks and costs differ, with real numbers.
Compare home equity options side by side, learn how each one works, and see which could fit you.
Pick one to see your options. It takes about a minute.
We may be compensated by the companies shown on this site, which can affect which options appear and their order. Not all applicants will qualify. For information only, not financial advice. Advertiser Disclosure
How it works
No guesswork. Just clear, side-by-side answers.
Pick what you want to do with your home's equity. It takes about 60 seconds.
See the options that fit your answers side by side, with the key facts for each one.
Review your options at your own pace. Seeing them won't affect your credit score.
What we cover
Pick a topic to see how each option works before you decide.
Both borrow against your home. Here is how the payments, risks and costs differ, with real numbers.
A revolving line of credit secured by your home that you draw on as you need it.
A lump sum with a fixed rate and fixed monthly payments, secured by your home.
Compare cash-out refinance offers from several lenders with one form.
Get cash today for a share of your home's future value. No monthly payments.
Get a lump sum of cash for a share of your home's future value. No monthly payments and no income requirement.
Tap your home's equity with a line of credit or refinance with a lender to take cash out or lower your rate.
Compare Estimated Rates
Take cash out with a refinance or a home equity line of credit from a nationwide mortgage lender.
Compare home equity line of credit options and draw on your line as you need it.
Compare home equity line of credit offers from multiple lenders with one short form.
Compare refinance options to lower your rate or take cash out.
$30k to $600k with no monthly payments, settled within 30 years.
We may be compensated by the companies shown, which can affect which options appear and the order they appear in. We don't list every company or product. Not all applicants will qualify, and terms vary by state and provider. See our advertiser disclosure.