{"id":369309,"date":"2016-04-04T10:47:20","date_gmt":"2016-04-04T15:47:20","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/realestate\/mortgages-equity-loans\/home-equity-loan-basics.html"},"modified":"2024-06-24T12:45:20","modified_gmt":"2024-06-24T17:45:20","slug":"home-equity-loan-basics","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/realestate\/mortgages-equity-loans\/home-equity-loan-basics.html","title":{"rendered":"Applying for a Home Equity Loan"},"content":{"rendered":"\n
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Applying for a Home Equity Loan<\/h1>\n
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\n By Robert Rafii, Esq.<\/a> | Legally reviewed by Robert Rafii, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

If you need to borrow money for home improvements, a home equity loan<\/a> or home equity line of credit (HELOC) may be useful. Initially, at least, these home loans provide you with money at relatively lower interest rates. They may also give you certain tax advantages, such as tax-deductible interest payments<\/a>. Check with your tax adviser to make sure.<\/p>\r\n

This article answers the following frequently asked questions (FAQs) about home equity loans and home equity lines of credit.<\/p>\r\n