How Home Equity Financing Compares With Other Lending Options

Factors to consider when you want to borrow money

When trying to determine what financing option is best for you, it's important to consider a variety of factors as each individual circumstance is different. The answers to these questions will help guide your focus as you identify the lending solution that's right for you.
  • How much do you need to borrow?
  • How quickly do you need access to funds?
  • Do you own your home?
  • If you own your home, how long do you plan to live there?
  • How close are you to paying off your current mortgage?
  • Are there promotional lending offers you can take advantage of?

Home equity lending options

  • A home equity loan (HELOAN) and home equity line of credit (HELOC) both let you to leverage the equity you've built in your home to cover a variety of expenses
  • A HELOAN can be used to cover expenses with fixed costs, and typically has a lower interest rate than an option like a personal loan as it is secured by your home
  • With a HELOC, you can draw funds as you need them and only repay what you use—just like a credit card
  • Home equity financing can be a good option for many homeowners and usually takes upwards of 30 days before you receive cash

Home equity lending resources

Articles, tools and videos to help you explore your home equity lending options.

Why choose a HELOAN or HELOC?

Learn how the equity in your home can help you can consolidate debt, renovate your home or make a major purchase.

The home equity lending process

What you can expect during the home equity loan and line of credit process—from application to closing.

Understanding your credit score

Building and maintaining a strong credit score can help improve your lending experience.

Want help choosing?

Answer a few questions to get loan and line of credit options that best match your borrowing goals.

Play video to learn about the information you'll need for your home equity application

What info do I need to apply?

Find out what information and documents you'll need for your HELOC or HELOAN application.

Get a personalized home equity quote

Estimate HELOC and HELOAN rates and monthly payments based on your home equity and borrowing needs

Explore TD financing solutions

TD Home Equity Line of Credit or Loan

Get the money you need to do the things you want—renovating your home, consolidating debt and more

TD Bank Credit Cards

Choose the card with the rewards you want, like Cash Back for everyday purchases

TD Bank Personal Loans

With a TD Fit Loan, you don't need to use your home or other assets to borrow money

TD Bank Mortgages

Whether you're buying or refinancing, we have the right mortgage for you

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