Home Equity
Loans
Find Today's Best
Home Equity Loans. Compare Home Equity
Loans to find the Right Home Equity Loan for
you.A home equity loan
is a loan that uses your home as collateral. Your
home equity is the part of your home that you
actually own and this is the guarantee for your
loan.
Your home equity is calculated by
taking the current value of your home and
subtracting your mortgage. For example, if your home
is worth $150, 000 and you have a $100,000 mortgage,
you have $50,000 of equity in your home. A home
equity loan allows you to borrow money using
your equity of $50,000 as security for the loan.
A home equity loan, often
called a second mortgage, reduces your equity or
ownership in your home. Since your home guarantees
your loan, if you default on the payments, you can
lose your home.
There are a
number of companies who all offer
competitive Home Equity Loans. Remember to
compare Home Equity Loans, as this is a highly
competitive market, and it is well worth shopping
around. Use one of our free
Loan Calculators to
help compare Home Equity Loans.
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