Plain-English explainers on HELOCs, home equity loans and the numbers behind borrowing against your home.
A HELOC has a draw period with interest-only payments and a repayment period with principal plus interest. See both numbers and the jump between them.
Open the calculator →Equity is your home value minus the mortgage. Lenders cap borrowing at roughly 85% combined loan-to-value. Estimate your borrowing power.
Open the calculator →One is a variable line, the other a fixed lump sum. Compare the monthly payment and total interest for both at rates you choose.
Open the calculator →More guides are on the way, including HELOC payoff strategies, home equity loan basics and cash-out refinance comparisons.