Home Equity Loan Rates

Keep your first mortgage and tap into your home equity with a fixed rate loan with simple monthly payments

Today's Home Equity Loan Rates
Term Options	Rate Range: APR Disclosure
30-Year Fixed Rate	x.xx% - xx.xx% APR
20-Year Fixed Rate	x.xx% - xx.xx% APR
15-Year Fixed Rate	x.xx% - xx.xx% APR
10-Year Fixed Rate	x.xx% - xx.xx% APR

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Product Terms
Loan Amounts	$35,000-$300,000
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

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.

Why take a home equity loan from Discover

One loan, multiple goals
Get the cash you need to tackle your to-do list. Consolidate debt, improve your home or finance a large purchase.

Erase expensive debts

Consolidate high-interest debt with a low fixed rate starting at x.xx% APR for second liens and save on monthly interest!

View APR Disclosure

Access your application online, anytime

You can check the status of your loan 24/7 on any device using our secure website.

Calculate your estimated home equity loan rate

Rate & Payment Calculator

Frequently asked questions

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 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.