Home Equity Loan
When you need cash all at once and you're happy with your current mortgage, a home equity loan is a great way to finance large expenses like home improvements.
A home equity loan is a type of second mortgage – an additional loan borrowed against your property's equity. This is a fixed-rate, simple interest loan that guarantees your rate will not change or increase during the initial loan term. These are ideal for those one-time expenditures or when on a budget.