What is a Home Equity Loan?
A home equity loan lets you borrow against the equity you've built in your home — receiving a lump sum at a fixed interest rate, repaid over a set term. It's sometimes called a 'second mortgage.'
Unlike a cash-out refinance, a home equity loan keeps your existing mortgage in place. This makes it an attractive option when your current mortgage has a favorable rate you don't want to disturb.
Why Choose a Home Equity Loan?
Fixed Rate & Payment
Lock in a fixed interest rate and predictable monthly payment for the life of the loan.
Lump-Sum Access
Receive all your funds upfront — ideal for large, one-time expenses like renovations.
Keep Your First Mortgage
Borrow against your equity without touching your existing mortgage rate or terms.
Potentially Tax-Deductible
Interest may be deductible when funds are used for home improvements. Consult your tax advisor.
Is a Home Equity Loan Right for You?
A home equity loan is ideal when you have a specific large expense in mind and want the certainty of a fixed rate and payment. Brian will help you determine how much equity you can access and whether a home equity loan or HELOC better fits your needs.