Not sure which Home Equity option is best for you? Our experts can help you figure it out. Below is a sample payment comparison based on a $50,000 home equity loan for both the line of credit and fixed term products.
|
Home Equity Line of Credit |
Home Equity Fixed Term Loan |
| Line Amount |
$50,000 |
N/A |
| Balance |
$50,000 |
$50,000 |
| Rate |
4.25% APR |
8.00% APR |
| Term |
N/A |
180 months |
| Payment* |
$180.48 (Interest Only) |
$478.02 (Interest and Principal) |
* All payment amounts are approximate.