Home Equity Comparison Chart
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Compare a Home Equity Loan to a Home Equity Line of Credit (HELOC)

Nationwide Bank® wants to help you find great available rates along with loan features to meet your financial goals, so you can pay less on the money you borrow.

To get the right loan for your needs, compare home equity loan solutions and understand the advantages of different borrowing options. Let us help you settle the home equity loan vs. line of credit debate, so you can make smarter choices with your money. When you make your own home equity comparison, you’ll discover both loan options feature attractive interest rates that consistently beat credit cards, as well as potential tax benefits* on the interest that you pay.

Home Equity Loan Home Equity Line of Credit
Your needs

You have one-time expenses like:

  • Major home renovation
  • Buying a car

You have ongoing expenses like:

  • Medical bills
  • Education expenses
  • Home improvements
Benefits Potential tax-deductible interest* Potential tax-deductible interest*
Interest rate Fixed interest rate, with fixed monthly payments Variable interest rate, with monthly payments that vary based on interest rate changes
Access to money Receive a single check or cash transfer for the full amount. Access funds as needed, either through checks or a credit card.
Repayment Fixed monthly payments, including interest and principal Minimum monthly payments, but many home equity lines offer interest-only payments during the draw period

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