A home equity loan commonly disburses a lump sum secured by the home. It can have a fixed or variable rate and is not necessarily second in lien priority. Review the actual payment schedule, lien position, rate, fees and total borrowing obligations.
Loan Products
Home equity loan
A lump-sum loan against your equity with a fixed rate and fixed payment — the predictable alternative to a HELOC.
By Lighthouse Companies, LLC · Updated · 2 min readLighthouse provides educational information, not a personal loan quote, lending decision, or legal or financial advice. Verify the figures against your documents and ask your lender, servicer, or a qualified professional about your circumstances.