The difference between the fair market value (appraised value) of your home and your outstanding mortgage balances and other liens.
Ready to apply?
Call a loan officer with questions or to apply.
Mon.–Fri. 8 a.m.–10 p.m. ET
Sat. 8 a.m.–6:30 p.m. ET
What is home equity and when can it be a good idea to use it? If you've paid down the principal on your home loan for several years, and/or the value of your home has appreciated, you may be able to tap into a portion of your accumulated Glossary Term: equity. Home equity loans and home equity lines of credit can be a smart way to make home improvements, consolidate debt,Footnote 1 invest in education or finance other necessary expenses.