Home Equity Loan

A home equity loan is a type of loan in which the borrower uses the equity built up in the home as collateral. A home equity loan is sometimes used to finance major expenses such as medical bills, home repairs or education expenses. It is sometimes referred to as a second mortgage or borrowing against your home. Learn more on this page about home equity loans and how you can use one.

Featured Home Equity Loan Article

Home Equity Line Of Credit is Now More Difficult to Get

Home equity line of Credit is now more difficult to get. The credit crisis has caused lenders to become more cautious and in some cases withdraw from the second home loan mortgage market, including home equity lines of credit or any type of home equity credit line. Why? Lenders have been burned with these home equity lines of credit, or any type of second home loan or home equity line of credit. Now lenders are pulling back and getting out of the equity line of credit market.

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