answersLogoWhite

0

A home equity loan is a loan that uses ones equity for money. Home equity loans have fixed intrest rates that assure consistent payments within a certain payment period.

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

What are the average interest rates on a home equity loan?

The average interest rates on a home equity loan depends on which home equity loan in particular. For example, the $30 HELOC is averaged at an interest rate of 5%.


Is home equity tax-deductible?

The equity in your home is not a tax deduction. The interest paid to banks for a home equity line of credit or loan may be tax deductible.


What are some frequently asked questions about home equity loans?

Some frequently asked questions about home equity loans include: How do home equity loans work? What are the benefits and risks of taking out a home equity loan? How much can I borrow with a home equity loan? What are the interest rates and repayment terms for home equity loans? How does a home equity loan differ from a home equity line of credit?


Auto Loan vs. Home Equity Loan?

Auto Loan vs. Home Equity Loan Home equity loans often have lower interest rates than auto loans and the interest may be tax deductible. Two good reasons to take a look at home equity loans to finance your automobile purchase.


What are the current interest rates for a home equity loan for an individual with excellent credit?

Current interest rates for a home equity loan will vary from bank to bank. For an individual with excellent credit, interest rates can vary from 4.00% to about 5.00%.


Where can one get details about an Orange Home Equity loan?

The home equity is a line of credit, a loan, or both. It starts with a home equity line of credit which is a form of revolving credit with a variable interest rate.


Are home equity loans taxable?

Home equity loans are generally not taxable, as the money borrowed is considered a loan and not income. However, there are certain circumstances where the interest on a home equity loan may be tax deductible.


What is a good home equity loan interest rate?

The Interest rates of home equity loans vary depending from country to country. In the US a good interest rate would be around 3%. But again, this will vary from time to time and from country to country.


Which home equity loan has the least amount of interest?

There are several types of home equity loans, but you always want to best one to meet your financial needs. The one that has the least amount of interest is Wells Fargo.


Where could a person compare the interest rate on home equity loans?

There are several online sites where one can compare the interest rates on home equity loans. Some of these online sites are "Bankrate", "Quickenloans", and "Lendingtree".


What is the interest rate for the Wachovia Home Equity Loan?

The interest rate for Wachovia home equity loans will depends on various factors. Wachovia's website states that the "Minimum APR is 4.24%; maximum APR is 18%".


What is the average interest rate for an equity loan?

The average interest rate for home equity loans is constantly changing. As of June, 2013 the average interest rate was 5.11% for a line of credit and 6.15% for a loan.