HELOC vs. Home Equity Loan: Which Is Right for You?

Home Equity Basics

Your home’s equity is the value you’ve built up—think of it as cash you can borrow against. A HELOC (Home Equity Line of Credit) acts like a credit card, letting you draw funds as needed. A home equity loan, though, hands you a lump sum with fixed payments. Both unlock money for renovations, debt consolidation, or big expenses, but they fit different needs.

HELOC: Flexible Cash

With a HELOC, you get a revolving line of credit—borrow $10,000 today, pay it back, then borrow again later. It’s ideal for ongoing projects or emergencies. Chestnut’s tech speeds up HELOC approvals and finds you the best rates, saving you time and money over clunky bank processes.

Home Equity Loan: One-Time Funds

A home equity loan delivers a single payout—perfect for a specific cost like a kitchen remodel. Payments stay steady, so budgeting’s a breeze. Our platform cuts the wait, delivering competitive terms with less stress than traditional lenders.

How They Compare

HELOCs offer flexibility but variable rates; home equity loans lock in certainty but less freedom. Not sure which suits you? Chestnut can help match you with the right option—fast. We’ve handled billions in loans, so we know how to make equity work for you.

Why Chestnut Wins

Big banks drag their feet with generic offers and slow approvals. Our modern tech slashes the timeline and tailors solutions, saving you hassle and cash. Need funds quickly? We’re built to deliver without the runaround.

Pick Your Path

Ready to tap your home’s value? Chestnut makes HELOCs and home equity loans simple and smart. Check your options today and unlock your equity with ease!