A Wells Fargo Home Equity Loan may be a good option if you need to fund a one-time expense.
With a home equity loan you can:
- Receive your funds in a lump sum — you get the full loan amount at once.
- Choose from a variety of loan terms (varies by loan amount).
- Enjoy a fixed interest rate for the life of the loan.
- Make fixed monthly payments of principal and interest.
- Have a predictable payoff schedule.
- Pay down additional principal balance at any time without penalty.
- Potential tax benefits. Unlike personal loans or credit cards, the interest on your home equity loan may be tax deductible.
- Payment stability. The fixed interest rate provides a predictable monthly payment that does not change throughout the life of the loan.
- Flexibility. Select the home equity closing cost option that meets your needs.
- With a home equity loan, you have one-time access to available equity and a single monthly payment option.
- A home equity loan means an additional monthly payment and additional debt secured by your home.