Going into November, however, there's a strong argument to be made for favoring a HELOC over a home equity loan, even if the latter has a slightly lower interest rate right now. Below, we'll explain why. See how low of a HELOC interest rate you'd be eligible for here.

Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes. A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home’s value and pay that amount back in monthly installments.

Deciding between home equity loan vs HELOC? Learn the difference between the two and when you may want to choose one over the other.

As interest rates drop, borrowers may want to refinance their home equity loan. Here's what they should know first.

Negative equity happens when the value of an asset, like a car or home, is less than the remaining balance on the loan used to buy it. This is also known as being “underwater” or “upside down” on a loan.

There are two types of second mortgages that allow you to leverage the value of your home: the home equity loan and home equity line of credit.