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Home Equity Loans offer convenient, low-cost financing for home improvements. A Home Equity Line of Credit (HELOC) can be used to finance virtually anything, from home projects to travel and more. It can also help you save money by refinancing or consolidating higher-rate loans.
| Home Equity Line of Credit | Home Improvement Loan | |
|---|---|---|
|
Overview |
A revolving line of credit that offers low rates, because the equity in your home is used as collateral. |
Paid in a single disbursement; offers a fixed rate and a fixed monthly payment. Unsecured loan with no equity requirement. |
|
Loan Amounts |
Line amounts up to $150,000 |
Loan amounts up to $50,000 |
|
Length of Term |
Draw period of up to 10 years |
Term lengths of 48, 60, or 72 months |
|
Special Features |
Make interest-only payments during draw period (80% LTV only) |
Enjoy predictable monthly payments |
|
Closing Costs |
Closing costs vary by state. The average is $300, but can range from $50 to $3,000. |
No closing costs; no appraisal or lien required |
| HELOC Details | Home Improvement Loan Details |
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Wings makes it easy for you to apply for a loan when the time is right for you. Complete a simple online application and learn about your loan options in seconds. If approved, a representative will contact you to finalize the details.
