See below for HELOC interest rates available as of June 9, 2023 . You can use the links below to navigate to our other interest rate pages. Note that interest rates are generally subject to market conditions and can change at any time.
What is the difference between a “home equity loan” and a “home equity line of credit”? The terms are often used interchangeably by mortgage professionals and homeowners. Both typically refer to a second mortgage product used to cash out home equity, but they function in different ways. A home equity line of credit, or HELOC, usually has a variable rate (but not always) and a revolving credit line that can be borrowed against and repaid whenever you like. A home equity loan usually features a fixed rate and the full loan amount is borrowed at closing and repaid on a monthly basis over a set loan term (such as 10 years, 15 years, etc.).
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