Home equity loans, also referred to as HELOANs (home equity installment loans) or second mortgages, allow you to borrow against the equity in your home and receive the funds in a single lump sum, making it easier to afford major purchases such as a home remodel, a child’s wedding, or college tuition. Similar to personal loans, home equity loans have a fixed interest rate and fixed repayment terms. Want to learn more about home equity loans? Please speak with an associate. We’re always happy to help!