Home Equity Loan Rates

Tap into your home equity with low fixed rate loan options

Current Home Equity Loan Rates
Term Length Options:	Rate Range: APR Disclosure
30-Year Fixed Rate	7.92% - 12.25% APR
20-Year Fixed Rate	7.92% - 12.25% APR
15-Year Fixed Rate	7.92% - 12.25% APR
10-Year Fixed Rate	7.92% - 12.25% APR

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Product Terms
Loan Amounts	$35,000-$300,000 (2nd Lien)
Payments	Fixed Monthly Payments
Terms	10, 15, 20 & 30 Years Loan Payment Example
Application Fees	$0
Origination Fees	$0
Appraisal Fees	$0
Charges at Closing	$0

What you can do with a Home Equity Loan from Discover

Achieve multiple goals
Get the cash you need for home improvements, consolidating debt, emergency expenses, or life's next big adventure.

Erase expensive debts

Monthly interest payments adding up? Consolidate your high-interest debts using a home equity loan with low fixed rates starting at 7.92% APR for second liens.

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Access your account online, anytime

Check the status of your loan application or make payments at anytime on any device using our secure website.

Find the Home Equity Loan rates you may qualify for

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Questions about Home Equity Loan rates

Main: Your APR is determined using factors like your credit history, loan amount, and the amount of equity you will have in your home after receiving the loan.

Main: Your interest rate is the direct charge for borrowing money.
The APR, however, reflects the entire cost of your mortgage as a yearly rate and includes the interest rate, origination charge, discount points, and other costs such as lender fees, processing costs, documentation fees, prepaid mortgage interest and upfront and monthly mortgage insurance premium. When comparing loans across different lenders, it is best to use the quoted APRs for the same type and term of loan.

Main: A home equity loan lets you borrow a fixed amount, secured by the equity in your home, and receive your money in one lump sum. Typically, home equity loans have a fixed interest rate, fixed term and fixed monthly payment. Interest on a home equity loan may be tax deductible under certain circumstances. Please consult your tax advisor to see if you qualify.

Main

There are many differences between a home equity loan vs HELOC. For example, a home equity loan typically comes with fixed rates and a lump sum of cash, while a HELOC typically comes with variable rates and a line of credit. Regardless of your choice, both a home equity loan and HELOC can help finance major projects like home renovations.

Discover offers home equity loan and mortgage refinance products but does not offer HELOCs.

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Main: Start your application online or give us a call.

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Discover Home Loans Restrictions and Details

We do not lend in IA or MD. You are not guaranteed approval. Once you apply and submit your credit and property information, we will confirm your eligibility. We don’t lend on cooperatives, condotels, investment properties, log homes, manufactured homes, mobile homes, or secondary homes. We will only originate one 1st lien mortgage per property per 12-month period. The maximum loan amount you qualify for will depend on additional factors, including type of loan, lien position, loan-to-value and your credit history. We may change rates, program terms, and conditions without notice. Discover Card accounts and other Capital One accounts (with the exception of Discover home and personal loans) may not be paid off with this home loan. All loan programs are offered by Capital One, N.A., 2500 Lake Cook Road, Riverwoods, IL 60015. NMLS ID 453156.