Compare Home Equity Loans and Lines of Credit

Which Home Equity Solution is right for you? With potential tax advantages1 and lower rates than most types of credit, a home equity loan or home equity line of credit could be a smart financial resource.

Check out the home equity loans and lines of credit comparison chart below to find out the key benefits and payment protection options for each. Determine which solution works best for you and your family’s needs.

Key Benefits:

Fixed rate
Fixed monthly payment

Continuous access to available credit
Flexible payment options
Ability to lock in fixed rate options

A good choice if you have:

A large one-time expense such as:
Buying a car
Consolidating bills

Ongoing financing needs such as:
Home improvements
Life events like a wedding or a new baby

Rates:
Fixed
Variable
with the ability to lock in fixed rate options2
Payments:
Fixed monthly payments
Flexible payment options:
Interest-only3; percent of balance; fixed payment
Maximum Term:
Up to 30 years4
15 year draw period
Followed by an additional 15 year repayment period
Account Benefits: