Put your home to work. . The key to understanding a home equity loan is to understand what banks mean by home equity.
Home equity is the fair market value of a home less the amount of existing loans owed.
Home Savings offers two convenient home equity loan programs for those living in and around Dane County, Wisconsin. Please consult a tax advisor regarding your tax advantages. With this loan, you can borrow a fixed amount of money to use for any major purchase, from a home addition to your children's education. You can borrow the entire amount you qualify for and repay it on terms to fit your budget. Home Equity Line of Credit A home equity line of credit works like a credit card.