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Home & Property Loan

What Is a Home Equity Loan?

A home equity loan—also known as an equity loan, home equity installment loan, or second mortgage—is a type of consumer debt. Home equity loans allow homeowners to borrow against the equity in their homes. The loan amount is based on the difference between the home's current market value and the homeowner's mortgage balance due. Home equity loans tend to be fixed-rate, while the typical alternative, home equity lines of credit (HELOCs), generally have variable rates.

  • To meet your banking needs, you'll need a combination of current and savings accounts.
  • Complementary accounts that work together to meet the demands of each individual's cash portfolio.
  • Instant access to cash, free day-to-day transactions, and fee-free currency conversion are just a few of the benefits - visit individual account sites for more information.

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