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Home Equity Loan Calculator
Fixed-rate lump sum against your home equity.
Enter values to see your result
Frequently asked questions
Home equity loan vs HELOC — which is better?
Home equity loan is better when you need a specific lump sum for a one-time expense (e.g., renovation, consolidation). HELOC is better for ongoing or uncertain expenses where you may only need some of the credit line.
Is the interest tax-deductible?
Only if the proceeds are used to buy, build, or substantially improve the home securing the loan. Using the funds for other purposes disqualifies the deduction.
What credit score do I need?
Most lenders require 620+ for home equity loans. For the best rates, aim for 740+. Lower scores mean higher rates or rejection.
How quickly can I get the funds?
Typically 2–4 weeks from application to funding — faster than a first mortgage, slower than a personal loan or credit card.