Borrowing Against Your Home Equity
When you need money for home renovations, or other expenses, sometimes a second mortgage is the answer.
BBVA can help make your home’s equity work for you with a home equity loan or home equity line of credit (HELOC).
With a home equity line of credit:
- Advance only the amount needed for almost any purpose
- Low monthly interest-only payments during the draw period
- Convenient access via check, in person, or the Visa® Platinum Credit Card (not available in Texas) tied to your BBVA HELOC
- Find an alternative to personal loans or credit cards, which typically have a higher interest rate
- Convert all or a portion of your outstanding line of credit balance to a fixed-rate advance
With a home equity loan:
- Receive your funds in a lump sum
- Enjoy a fixed interest rate for the life of the home equity loan
- Make fixed monthly principal and interest payments
- Benefit from a predictable payoff schedule
- Choose from loan terms up to 30 years
- Consolidate debt or pay for major expenses
Want to learn more about our HELOC and home equity loans? We’re here to help you choose the right option, start the application process, and get the loan you need.
You may also be interested in:
What is a Home Equity Loan?
A home equity loan can be a smart, affordable way to borrow. Learn about the benefits, requirements, options, risks, and how much you can borrow.
How Does a Home Equity Line of Credit Work?
A home equity line of credit—also known as a HELOC—can be a great personal finance tool. But how does it work?