Home Equity Loans - Hero Image

Home Equity Loans from Discover

A simple way to
unlock your equity.

Low Fixed Rates | Zero Origination Fees | Great Customer Service
Loan options in minutes
Your Loan Options in Minutes

Apply online or over phone, fast and easy. Loan options from $35,000 to $200,000 with fixed rates starting at 4.15% APR.

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Low Fixed Rates
Low Fixed Rates. Zero Origination Fees.

Zero application fees, zero appraisal fees and zero mortgage taxes.

Help on hand
Help on hand 7 Days a Week

Get your own personal banker and a loan team dedicated to processing your application.

Rates, Terms & Fees

Feel secure with the same fixed rate and payment each month.

Interest Rates

Fixed interest rates from 4.15% - 11.99% APR
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Loan Amounts
Fixed Monthly Payments

10, 15, 20 & 30 Years
Loan Payment Example

Application Fees
Origination Fees
Appraisal Fees
Cash Required at Closing
Discover Home Loans pays all closing costs incurred during the loan process, so that you don’t have to bring any cash to your loan closing. 
In the event that you decide to pay off your loan balance in full within 36 months after your loan closes, you will be required to reimburse Discover for some of the closing costs that we are paying on your behalf, not to exceed $500.00. 
Reimbursable closing costs will include all title fees, recording fees, and mortgage/transfer taxes. If you reside in Connecticut, Minnesota, New York, North Carolina, Oklahoma, or Texas you are not required to reimburse the closing costs.

Use our calculators & see what you think

See how much you could borrow
Pay off debt & check your savings
Check your fixed rate & payment
Turn your home equity into cash

Here's what our customers are saying



Here's what our customers are saying


“Can't say enough about how professional the staff was. I would recommend Discover to anyone if everyone was treated like my loan was.”

Joseph L, 01/28/20

“The process was also extremely fast and they made sure that everything was done and complete. The rates were better than other places that we had looked.“

Shane B, 02/04/20

“Always ready to answer all questions or concerns. Always make the customer feel important. Glad I chose Discover to make our financial needs possible.“

Robert M, 03/26/20

One loan for multiple goals.

Our debt consolidation customers save an average of $697 on their monthly payments!

Payment Comparison Example


Monthly Payments

From credit cards & loans totaling $49,057



Fixed Monthly Payments

30 yr. term $49,057 at 6.99% APR
(excludes taxes & insurance)

Savings of $697 per month. That's $8,367 per year!

Find your low,
fixed rate

Use our Rate Calculator to find the rate and monthly payment that fits your budget.

Make it the home of your dreams.

Make Big Upgrades

$35,000 - $200,000 is enough money to renovate or expand your living space.

Save With Low, Fixed Rates

Get a low monthly payment and zero origination fees or cash required at closing.

Get a Potential Tax Deduction

Potentially deduct your loan’s interest on your taxes when you improve your home (consult your tax advisor to see if you qualify).

Did you know?

The home equity you’ve earned can be used in a multitude of ways.

Get a better mortgage now and for the future.

We Have Your Needs Covered

We can refinance your original mortgage, a HELOC, or an old home equity loan.

Get a Low Rate or Longer Term

Put yourself back in control of a better financial situation with a mortgage reset.

Get the Cash You Need

Refinance and cash out your home equity with zero origination fees.

Get your rate

$0 Application Fees.
$0 Origination Fees.
$0 Cash Required at Closing.

Imagine what your home equity could provide.

Get Cash to Meet Your Needs

Pay the tuition of a loved one. Make a major purchase. Have the perfect wedding.

Healthcare Bills Covered

Use your equity to relieve some financial stress so you can focus on your health.

Feel Secure About Your Rate

The low, fixed rate and payment you’ll get from Discover won’t ever change.

Did you know?

The home equity you’ve earned can be used in a multitude of ways.

Frequently Asked Questions


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. 


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With a home equity line of credit (HELOC), you get the flexibility to withdraw money as you need it up to a predetermined credit limit and repay the loan over a fixed term. Typically HELOCs have a variable interest rate that can increase or decrease over time. Generally, there is a fixed "draw" period, during which you may with draw funds, repay them or a portion of them up to a credit limit, similar to a revolving credit card. During the draw period, many lenders permit you to make interest-only payments.  After the draw period ends, you can no longer request funds and are required to repay the outstanding balance over the remaining term of the loan. By contrast, a home equity loan gives you all of your funds upfront in a lump sum and usually comes with a fixed interest rate and monthly payment that never change for the life of the loan. Discover offers home equity loans and mortgage refinances instead of HELOCs.


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With Discover, you will not have to pay any application fees, origination fees, or appraisal fees. Since a home equity loan or mortgage refinance is a secured debt, the average interest rate is typically lower than what you'll pay on an average credit card or other form of unsecured debt.


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Your Guide to Home Lending

Learn more about product options, using your equity wisely, and the home equity market.


Start your application online

or give us a call.

  • Weekdays 8am–Midnight ET
  • Weekends 10am–6pm ET

Start your application online or give us a call.

  • Weekdays 8am–Midnight ET
  • Weekends 10am–6pm ET