A home equity line of credit (HELOC) gives homeowners with at least 15% to 20% equity access to flexible financing. You can tap into that credit line for expenses such as home renovations or to ...

Home equity loan: A home equity loan is similar to a HELOC, but instead of a credit line, it gives you a lump sum of cash. Repayments begin right away, at a fixed interest rate , meaning your ...

The credit line you qualify for is typically based on the difference between your home’s appraised value and what you still owe on your mortgage, said Boyer. Typically, you can apply for a HELOC ...

A no doc HELOC, or no-documentation home equity line of credit, allows homeowners with nontraditional income to access their home's equity. It’s typically used by borrowers who can’t qualify ...

Vice President of Lending for Team Hochberg at Homeside Financial and host of WGN’s “Home Sweet Home Chicago” David Hochberg joins Bob Sirott to discuss just how much gas prices impact the economy as ...

With a cash-out refi, you refinance your mortgage for more than you owe, and deposit the difference into your bank account.The new home loan comes with a new mortgage rate. Lots of people got cash ...

Now, taking out a home equity line of credit just got more affordable. HELOC interest rates dipped below 8% for the first time since 2023. Before this major milestone, ...

Home equity line of credit (HELOC). A revolving line of credit that works like a credit card, offering variable interest rates and flexible borrowing during a five to 10-year draw period.

Both home equity loans and HELOCs offer homeowners cost-effective ways to borrow from their home equity now. Getty Images/iStockphoto The economy shifted during the final months of 2024 — the ...

WESTERLY, R.I., May 2, 2025 /PRNewswire/ -- Washington Trust launched a new Home Equity Line of Credit product today, to help homeowners with home improvement projects, debt consolidation, and ...

One of these newer iterations are home equity contracts (HEIs), new financial products “in which homeowners get an upfront payment from a company and, in exchange, must repay a single lump sum ...

Home equity line of credit (HELOC) Mortgage. What you can use it for. It’s up to you. Home purchase. Factors that affect what you can borrow. Your home’s value, remaining mortgage amount.