Types of Home Equity Financing Options A home equity account is a smart tool for managing one of your largest assets -- your home. With potential tax advantages* and lower rates than most other types of credit, a home equity loan or line of credit can be an important financial resource for meeting large expenses. What's the difference between a home equity line of credit and a home equity loan? Home Equity Lines of Credit Home Equity Loan Profile Home Equity lines of credit are a resource you can use any time, for any kind of expense. Home equity loans provide you the funds you need in one easy, lump-sum disbursement. Ideal for: Ongoing expenses including: Home improvements Educational and medical expenses Life events such as a new baby or wedding Small business expenses Major one-time expenses such as: Buying a new car Financing the down payment on a house Consolidating debt Payment Options Monthly payments, including interest only that vary depending on the current rate and amount you've borrowed. Predictable monthly payments that stay the same no matter how the economy may change. Interest Rate Variable interest rate tied to the prime rate. Get a customized rate quote or call 1-866-624-5663. Fixed interest rate. Get a customized rate quote or call 1-866-624-5663. A smart option to consider if you: Have multiple needs now and in the future Prefer flexible payment options, including interest-only Are less concerned about changing rates and monthly payments Are financially conservative Want the stability of a predictable monthly payment Prefer a simple product for a one-time need *Consult your tax advisor for details. top Home  |  Apply Now  |  About Us  |  State Licenses  |  Privacy | Security  |  Contact Us Copyright © 1999-2005 McGlone Mortgage Company, Inc., All rights reserved.