Before tapping the equity in your home, become familiar with the way home equity loans work.
Home equity loans are available in two ways — as a fixed-rate loan or a variable-rate line of credit. Which one is best for your situation?
The keys to a great rate are your credit history, your income and the loan-to-value ratio.
Tapping your home’s equity can be risky. Know the loan rules, your home’s value and your actual costs before closing the deal.