Home Equity Loan

Keep your existing mortgage 
and tap into your home equity.

What is a home equity loan?

A home equity loan lets you borrow money from the equity in your home. Money borrowed with a home equity loan is yours to use for any needs.
Discover lets you borrow $35,000-$300,000 in one lump sum.
Loan options in minutes

Low, Fixed APRs

Discover home equity loan fixed rates start at x.xx% APR for 1st liens and x.xx% APR for 2nd liens.

View APR Disclosure

Low Fixed Rates

Fixed Repayment Terms

A home equity loan from Discover offers fixed repayments in 10, 15, 20, or 30 year terms.

Loan Payment Example

Help on hand

$0 Origination Fees

A Discover home equity loan comes with no appraisal fees, mortgage taxes, or closing costs.

Home Equity Loan Rates, Terms, and Fees

Keep your existing mortgage and tap into your home equity

Interest Rates

Fixed interest rates from x.xx% - xx.xx% APR

View APR disclosure

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.

See rates for all loan options.

Calculate home equity loan options

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 customers are saying about Discover Home Equity Loans



Here’s what customers are saying about Discover Home Equity Loans


“The customer service was extremely exceptional!!!"

April L., AL, 9/20/22


“Such an amazingly easy and speedy process.”

Michael H., GA, 9/16/22


“Things were very streamlined and the website to track status was great."

Daniel M., OH, 11/9/22

Home Equity Loan Uses

Our debt consolidation customers erase an average of $xxx off their monthly payments!1



Monthly Payments

From credit cards & loans totaling $xx,xxx



Fixed Monthly Payments

30 yr. term $xx,xxx at x.xx% APR2
(excludes taxes & insurance)

Savings of $xxx per month. That's $xx,xxx for the year!1

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 - $300,000 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.

Did you know?

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

Refinance and cash out with a new rate and term.

We Have Your Needs Covered

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

Get a New Rate And Term

Put yourself back in control of a better financial situation. 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. Have the perfect wedding. Cover any healthcare bills.

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.

Questions About Home Equity Loans and HELOCs


A home equity loan is a second mortgage that lets you pull cash from your home equity. Unlike HELOCs, home equity loans come with low, fixed rates and provide a lump sum of cash instead of a variable line of credit.


Please note: Discover Home Loans offers a home equity loan product, but does not offer HELOCs.


A home equity line of credit (HELOC) is a type of credit account that lets you borrow money against the value of your home. Because the money you borrow is a secured debt that uses your home as collateral, you can typically obtain a lower interest rate on a HELOC or other home equity loan than you could get for other types of consumer loans.


There are many differences between a home equity loan vs HELOC. For example, a home equity loan comes with fixed rates and a lump sum of cash while a HELOC comes with variable rates and a line of credit. Regardless of which you choose, 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.


The actual length of time it takes to get a home equity loan varies by homeowner and lender.


When you apply for a home equity loan with Discover, the process is simple from start to finish:

Step 1: Getting the Basics (Around 1-2 Weeks)

Apply online or over the phone to review your loan options, then upload required documents. We'll confirm your initial eligibility.

Step 2: Processing Your Info (Around 4 Weeks)

We'll gather third-party information about your home and send your complete application to underwriting for a final decision.

Step 3: Closing Your loan (Around 1-2 Weeks)

We'll contact you to schedule your closing and then arrange for your loan funds to be sent to your accounts.


A fixed interest rate on your home equity loan means you will make stable and predictable interest payments towards your loan balance for the life of the loan.


Mortgage providers will base the home equity loan options you receive on your available equity, income, debt, and credit history. Compare the loan amounts, rates, terms, and fees of these options to make an informed decision.


Discover Home Loans has resources and calculators to help you determine what works best for you. 


You can calculate the amount of equity you have in your home and how much you can borrow using our loan amount calculator. Then try our monthly payment calculator to see what your monthly payment could be. 


It’s also a good idea to use our debt consolidation calculator to see how much you could save each month by consolidating debts with your loan.


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

Your Home Equity Loan Guide

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


Start your home equity loan application

online or give us a call.

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

Start your home equity loan application online or give us a call.

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