One of the benefits of home ownership is that the equity in your home is there if you need it. So if you have home improvement projects or debt consolidation in mind, you can use the equity in your home to help get funding.

There are two options to use your home equity to get funding: a home equity loan or a home equity line of credit (HELOC). Each option is a loan that uses the equity in your home as collateral.

Before you decide which option is best for you, watch this video to learn about the differences between a home equity loan and a home equity line of credit.