If you own a home, you can borrow against the equity of the home with either a loan or a line of credit. The equity in your home is the difference between what your home could sell for and what you owe on the mortgage.
With a home equity loan, the lender advances you the total loan amount upfront, while a home equity line of credit provides a source of funds that you can draw on as needed. A few other differences are shown in the chart below.
You are leaving First Nebraska Credit Union's website. Links that may be accessed through this site are for the convenience of informational purposes only. Any products and services accessed through this link are not provided or guaranteed by First Nebraska Credit Union. The site you are about to visit may have a privacy policy that is different from the privacy policy of First Nebraska Credit Union. Please review their privacy policy. First Nebraska Credit Union does not endorse the content contained on these sites, nor the organizations publishing the sites and hereby disclaims any responsibility for such content.
