Home Equity | LendEDU

Ways to access the equity in your home

If you have sufficient equity in your home, you can use it to access cash. Your home acts as collateral for these loans or agreements.

Home equity reviews

Several companies allow you to access the equity in your home. Before moving forward with any company, it’s important that you review what it offers to ensure it offers you the best terms.

Other home equity resources

Latest on home equity:

What Is a HELOC Promissory Note?

A home equity line of credit can provide you with flexible access to cash. Before you can get the money, you'll need to...

Citizens Bank Home Equity Review

Citizens Bank offers home equity lines of credit (HELOCs) of up to $2 million to eligible homeowners in 18 states and the District...

PenFed Home Equity Review

A HELOC from PenFed gives homeowners access to up to $500,000 of their home’s equity with flexible rates and standard terms.

Bethpage Home Equity Review

Bethpage FCU is one option if you’re considering a HELOC. The company allows you to convert all or a portion into a fixed-rate...

Truist Home Equity Review

Truist offers a home equity line of credit that homeowners can use to finance upcoming projects or consolidate debt.

How Does the Draw Period Work on a HELOC?

During the HELOC draw period, you can withdraw money from your line of credit. You typically make interest-only payments during this phase.

How Often Can the Interest Rate Change on a HELOC?

A variable interest rate on a HELOC can change as often as once a month....

How a First-Lien HELOC Works: Complete Guide and Highest-Rated Lenders

A first-lien HELOC could provide you with access to equity and savings on your mortgage....

How Does Paying Back a HELOC Work?

HELOCs have two periods: a draw period and a repayment period. You’ll make payments during both—but not the same amount.

How Much Equity Do You Need for a HELOC?

The amount of equity you'll need for a HELOC will vary by lender, but usually needs to be at least 10% to 20%.