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Compare Home Equity Loans and Lines of Credit

Loan
Ideal For
Big-ticket items, home improvement projects, education, auto, debt consolidation and more.
Funding
One-time funding
Type
Fixed-rate financing
Payment
Principal and interest payment amortized up to 15 years
Loan To Value (LTV)
Borrow up to 80% of your home's equity
Tax Deductibility
Your interest may be tax deductible - consult your tax advisor
Line of Credit
Ideal For
Ongoing access to funds for home improvement projects, education, auto, debt consolidation and more.
Funding
Draw funds only when you need them
Type
Variable based on Wall Street Journal Prime Rate
Payment
Interest-only payments during 10-year revolving period, then principal and interest payments during 15-year repayment period
Loan To Value (LTV)
Borrow up to 80% of your home's equity
Tax Deductibility
Your interest may be tax deductible - consult your tax advisor
account options Loan Line of Credit
Ideal For Big-ticket items, home improvement projects, education, auto, debt consolidation and more. Ongoing access to funds for home improvement projects, education, auto, debt consolidation and more.
Funding One-time funding Draw funds only when you need them
Type Fixed-rate financing Variable based on Wall Street Journal Prime Rate
Payment Principal and interest payment amortized up to 15 years Interest-only payments during 10-year revolving period, then principal and interest payments during 15-year repayment period
Loan To Value (LTV) Borrow up to 80% of your home’s equity Borrow up to 80% of your home’s equity
Tax Deductibility Your interest may be tax deductible – consult your tax advisor Your interest may be tax deductible – consult your tax advisor

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