X Trailhead CU App Trailhead CU App VIEW VIEW
« Back to support home

What is the difference between a Home Equity Loan and a Home Equity Line of Credit?

A home equity loan lets you borrow a fixed amount, secured by the equity in your home, at a fixed interest rate, and you receive the money in one lump sum. A home equity line of credit enables you to withdraw money as you need it up to a predetermined limit and repay the loan over a fixed term and typically with a variable interest rate that may increase or decrease over time.

Search for another topic

Third Party Site Disclaimer

By clicking this link, you are leaving Trailhead Credit Union’s web site and entering a web site hosted by another party. We do not operate this site, nor are we responsible for its content. Please review the privacy and security policies of the site you are entering, as they may differ from Trailhead’s.

Cancel Accept