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Home Equity Account Basics

Your Home Matters®

Your home equity account is available to you anytime, anywhere

Welcome. The Your Home Matters program provides information to help you manage your home equity account and make the most of your relationship with Wells Fargo. Visit anytime you have a question about your account. We can help you make your payment online, view your account balance and history, and much more.

Your Wells Fargo home equity account is a powerful tool that can help you achieve your financial goals. Enjoy competitive rates that are typically lower than many other forms of credit, flexible payment options and tax deductible interest (consult your tax advisor) -- your home equity account is yours to use.

Download our new customer checklist (PDF) to learn about the features and benefits of your home equity account.

Home equity lines of credit

How can I manage my account online?

Whether you have a home equity line of credit or a home equity loan, you can manage your accounts online, anytime at Wells Fargo Online.

Wells Fargo Online allows you to view account activity and statements, make payments, transfer funds, pay your bills and much more. 

Online statements

  • Easily manage your finances — Access up to two years of statements
  • Fight identity fraud — Reduce the risk of mail fraud that comes with paper statement delivery
  • Save paper — Switch to electronic statements and help protect the environment
  • Simplify record keeping — Access your annual tax documents 

Mobile banking

Sign on.

Not enrolled? Sign up now.

Enrolled but don’t see your account? Add your account for online access.

How can I use my Home Equity Line of Credit?

Your line of credit gives you convenient access to available funds at an interest rate that's typically lower than many other forms of credit.

Viewing your account

You'll receive monthly statements in the mail. And you can view your account online with Wells Fargo Online®. You can set up recurring payments so that you never forget to make a payment, or switch to paperless statements to help prevent fraud.

Accessing your funds

Access credit when you need it. Your revolving line of credit allows you to access your available credit as you pay down your principal balance.

Using your line of credit

Your home equity line of credit is an easy and convenient way to obtain financing for a variety of situations, including:

  • Increase the value of your home. Use your home equity line of credit to finance home improvements that may boost your home’s value and make your home more enjoyable.
  • Large purchases or unexpected expenses. Finance important purchases, or be prepared for unexpected expenses—such as car repairs.

Your Home Equity financing may provide tax advantages. (Consult your tax advisor on specific tax benefits.)

Check out our quick guide to accessing your home equity line of credit online.

What are the benefits of a fixed-rate advance option?

How does a fixed-rate advance work? On a $50,000 line of credit, you might lock in a 5-year fixed rate for $15,000 for home improvements, a 3-year fixed rate on $10,000 for major purchaes, and a variable-rate advance on $5,000, with $20,000 in available credit. If you’d like a fixed-interest rate, a fixed-rate advance option may be the right choice for you. It’s an easy way to manage your monthly payment and protect yourself as interest rates rise. Many Wells Fargo home equity lines of credit already have this feature as part of the account.

How It Works

The fixed-rate advance option gives you the flexibility to secure a fixed-interest rate on any or all of your outstanding line balances during the draw period so your payments remain the same month after month.

Benefits of a Fixed Rate

In addition to securing a fixed rate, this option gives you the power to:

  • Choose the amount of your outstanding variable-rate line of credit balance that you want to move to a fixed-rate option.
  • Change your fixed-rate advance back to a variable-interest rate at any point during your draw period. The transferred funds will be charged the variable-interest rate that’s in effect at the time of your transfer.
  • Plan for your future monthly payments with a fixed-interest rate on specified balance(s).
  • Choose the term of your fixed-rate option.

Use your line of credit in the way that works best for you

Your home equity line of credit gives you the flexibility to configure your balance in the way that best meets your needs. Call 1-866-834-9761 to review your needs with a Wells Fargo Home Equity Specialist.

Example: $50,000 Home Equity Line of Credit With An Outstanding Balance of $30,000

  • $25,000 of the outstanding balance is transferred to a fixed rate option
  • $5,000 of the outstanding balance remains at the variable interest rate

$20,000 remains as available credit during the draw period                                        

How can I request a line of credit increase?

Your home equity line of credit is a great resource to have at your fingertips. If you find you need more financial flexibility, and have enough equity in your home, you can request a line of credit increase. Homeowners often request line of credit increases for:

  • Home improvements
  • Major purchases
  • Unexpected expenses

Applying for a line of credit increase may be a sensible option for you. Wells Fargo looks at many factors when considering whether to extend a line of credit increase: 

  1. Sufficient equity in your home
    We look at the fair market value of your home, minus the total amount of debt you may owe. This debt includes your mortgage, existing line of credit, and any other home-secured obligations.
  2. Good credit
    A good credit rating and a history of responsible money management are important. The better your credit rating, the more likely you are to qualify.

To apply for a line of credit increase, call 1-866-834-9761 or Apply Online.

If you have a home equity loan, you can apply for a new home equity line of credit. Call 1-866-834-9761 to discuss your options.

How can I pay down or pay off my account?

Paying down your home equity line of credit doesn't mean you have to close your account. In fact, there are significant long-term benefits to keeping your line of credit open, even at a zero balance. You’ll:

  • Retain quick access to available credit for unexpected expenses or major purchases.
  • Spare yourself the need to reapply and be approved again in the future.
  • Keep your account’s current interest rate.

Of course, you may arrange to pay off and close your entire line of credit at any time. (A prepayment fee may apply if the account is closed within three years from account opening). Please call us at 1-866-404-3149 to discuss your options.

Refinancing your home mortgage?

With low interest rates, many homeowners are choosing to refinance their first mortgages. Typically, the bank refinancing your first mortgage will pay off and close your home equity line of credit account.

However, you may be eligible to refinance and keep your Wells Fargo home equity account open — allowing you to keep your current home equity line of credit account interest rate, terms, and access to funds — through a process called subordination. Learn more about subordination and see if it may be right for you.

How do I order checks for my home equity line of credit?

You can call us at 1-800-667-5852 to have checks mailed to you.

How do I make a wire transfer to my home equity line of credit?

You can use a wire transfer to make a regular payment or an additional principal payment on your line of credit; you can also pay your line down to zero or pay it off so that it can be closed.

Before paying off your line of credit, please call our Customer Care team at 1-866-275-9138.

See wiring instructions

How many years will I have to access my available credit?

Most home equity lines of credit have 10- or 15-year draw periods from the date that your line of credit was opened.

What monthly payment options are available?

  • Principal plus interest. Each month, you make principal and interest payments on your account.
  • Principal only. In addition to regular principal and interest payments, you can choose to make additional principal payments to reduce your balance faster. You can do this without penalty so long as you don't close your account.

Our home equity specialists are here to help you understand your payment options so you can find the right one for you. Please call 1-800-667-5852 to learn more.

What does end of draw mean, and what happens?

For a home equity line of credit, end of draw is the point at which the draw period ends and you can no longer access funds. Most lines of credit have a 10- or 15-year draw period and then move into the repayment period, when you’ll repay your outstanding balance with principal-and-interest payments (also known as fully amortized monthly payments). Depending on your contract terms, the interest rate may change from a variable rate during the draw period to a fixed rate during the repayment period. The combination of the fully amortized monthly principal-and-interest payments and the fixed interest rate may increase your monthly payments substantially, especially if you made interest-only payments during the draw period. Some home equity lines of credit include a balloon payment, which requires you to pay the outstanding balance in one lump sum at the end of the draw period.

Learn more about planning for the next phase of your home equity financing.

How far in advance should I prepare for end of draw?

It's a good idea to plan for end of draw when you first open your home equity line of credit. Making principal-and-interest payments from the beginning will help you when your line of credit enters the repayment period or when you have to make a balloon payment. We recommend that you pay particular attention at least two years before your financing reaches end of draw.

Learn more about planning for the next phase of your home equity financing.

Home equity loans

How can I manage my home equity loan account?

Your Wells Fargo home equity loan provides you with flexible options and the control to help you manage your account.

Viewing your account

You will receive monthly statements in the mail. And you can view your account online, anytime at Wells Fargo Online. There, you will be able to set up recurring payments so that you never forget to make a payment, or switch to paperless statements to prevent fraud.

Check out our quick guide to accessing your home equity loan online

How can I manage my account online?

Whether you have a home equity line of credit or a home equity loan, you can manage your accounts online, anytime at Wells Fargo Online.

Wells Fargo Online allows you to view account activity and statements, make payments, transfer funds, pay your bills and much more. 

Online statements

  • Easily manage your finances — Access up to two years of statements
  • Fight identity fraud — Reduce the risk of mail fraud that comes with paper statement delivery
  • Save paper — Switch to electronic statements and help protect the environment
  • Simplify record keeping — Access your annual tax documents 

Mobile banking

Sign on.

Not enrolled? Sign up now.

Enrolled but don’t see your account? Add your account for online access.

How do I make a wire transfer to my home equity loan?

You can use a wire transfer to make a regular payment, an additional principal payment, or to pay off your home equity loan.

Before paying off your loan, please call our Customer Care team at 1-866-275-9138.

See wiring instructions

What monthly payment options are available?

  • Principal plus interest. Each month, you make principal and interest payments on your account.
  • Principal only. In addition to regular principal and interest payments, you can choose to make additional principal payments to reduce your balance faster. You can do this without penalty so long as you don't close your account.

Our home equity specialists are here to help you understand your payment options so you can find the right one for you. Please call 1-800-667-5852 to learn more.

What does end of term mean and what happens?

For a fully amortized home equity loan, or balloon home equity loan, end of term is the point at which the outstanding balance becomes due in one lump sum. This amount may be substantial.

Learn more about planning for the next phase of your home equity financing.

How far in advance should I prepare for end of term?

It's a good idea to plan for end of term when you first take out your home equity loan. Making principal-and-interest payments from the beginning will help when you have to make a balloon payment. Pay particularly close attention to your home equity financing at least two years before it enters end of term. 

Learn more about planning for the next phase of your home equity financing.

Home equity payment challenges

If you're having financial difficulties, you may be eligible for a home equity assistance program.

Learn how to get help