Skip nav to main content.

What are the benefits of a Home Equity Loan?

There can be many benefits to using the equity in your home to borrow money, some of which may include:

  • Potential tax benefits: Home equity and mortgage interest payments are often tax-deductible. Consult your tax advisor whether this will be the case for your loan, and for other information.
  • Lower monthly payments: Interest rates on home equity financing are typically lower than on credit cards or other personal loans, which could mean lower monthly payments for you.