Benefits of a home equity loan or refinance from Discover may include lower interest rates and ZERO charges at closing. Since a home equity loan or refinance is a secured debt, the average interest rate is typically lower than what you'll pay on an average credit card or other form of unsecured debt. With Discover, you will not have to pay any application fees, origination fees, or appraisal fees. Additionally, a home loan with Discover also offers potential tax savings as interest payments may be tax deductible depending on how you use the loan. Consult your tax advisor as to the deductibility of your interest.