The best part about owning a home is the equity you have in it. Since the day you moved into your new house, you've been gaining equity with every payment you've made. That equity equals financial clout. And a home equity loan or line-of-credit is the best way to harness that power.

With home equity funds, you can finally redo that kitchen. Or pay a tax bill. You can install a new pool. Or take a cruise. Your home's equity is your money—money you've been earning since you first bought your home. It's collateral. It's freedom.

Which option is right for you? 

First, decide whether you want a Home Equity Line of Credit or a Fixed Home Equity Loan.

• Choose a Home Equity Line of Credit if you want easy access to your home's equity but don't need it all at once
• Choose a Fixed Home Equity Loan if you want to receive the entire loan amount at once.