Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes. A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home’s value and pay that amount back in monthly installments.

Home equity loans, home equity lines of credit (HELOCs), cash-out refinances and reverse mortgages all offer homeowners viable ways to borrow from their accumulated home equity. And, right now, there's plenty to borrow from with the average homeowner in possession of around $320,

Home equity rates did the slightest of dips in the most recent week. The $30,000 home equity line of credit (HELOC) fell one basis point to 8.28 percent, trading near its lowest level in more than a year and a half,