Home equity lines of credit often have more flexible repayment terms than a standard home equity loan. Home equity loan payments are typically fixed over the repayment period, while home equity lines of credit can offer interest-only payment terms, or outstanding balances can be repaid using a variety of repayment strategies.
Home Equity Loan or Line of Credit?
Home Equity Loan or Line of Credit?
Home Equity Payment Summary
Home Equity Loan Payment
Initial Home Equity Line of Credit Payment
You can borrow up to 95% of your home’s value (maximum Home Equity Loan of $250,000), which includes any balance owned on an existing first mortgage loan. The maximum loan-to-value varies based on credit tier, combined LTV and loan amount requested.