Skip to main content

What You Need to Know About Home Equity Loans

June 7, 2021

A home equity loan is also known as a second mortgage. This type of loan applies to people who have paid off a substantial portion of their first mortgage. As a homeowner, you may borrow against your equity in your home. If you then use the funds to extend or substantially improve the home, the interest on the loan may be tax-deductible, according to the Tax Cuts and Jobs Act of 2017.

Posted in: equity, home, improvement, loan, mortgage, second