If you would rather take money at a fixed rate than a variable rate then a home equity loan standalone second is the loan for you. A traditional home equity loan has many different period lengths that it may be acquired for.  You may get a 5, 10, 15, 20, or 30 year loan. Most home equity loans are at there fully amortized rate from the beginning, there is no additional draw period but you still can have the option of interest only payments like a line of credit with the longer term loans. With a home equity loan you can borrow up to 125% of your homes appraised value.

Quick Loan Overview and Guidelines
 - 5 Year Period (5 Years Payback)
 - 10 Year Period (10 Years Payback)
 - 15 Year Period (15 Years Payback)
 - 20 Year Period (20 Years Payback)
 - 30 Year Period (15 Years Interest Only / 15 Years Payback)
 - Fixed Interest Rate Loan (Variable Rate Home Equity Line of Credit)
 - Can be behind a Negative Amortizing 1st Mortgage
 - No Bankruptcy's in the last 36 Months

Is this not the loan you are looking for?
 - Zero Cost Home Equity Line of Credit
 - New Homeowner Home Equity Line of Credit
 - No Income Verification Equity Line
 - Bad Credit Home Equity Loan

Advantages

• Tax deductible up to $100,000
• Interest rates are fixed
• Ability to borrow 125% of your homes value

Disadvantages

• Interest rates are usually higher than a Home Equity Line of Credit
• Fixed end loan so you cannot keep borrowing money as needed
• Harder to qualify for

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