Consolidate high-interest debt, renovate your property, or start investing with a smarter, faster home equity loan from Directions Home Loan.
Don’t overpay for high-interest debt.
Why pay more than you have to? A home equity loan offers a fixed interest rate that is often significantly lower than other forms of credit. By using the equity in your home, you can access a lower-interest loan to pay off costly balances and save thousands over the life of the loan. And with our competitive rates, your interest payments are more manageable.
Here’s a side-by-side comparison of typical loans versus our home equity loan:
| Credit Type | Average Interest Rate |
|---|---|
| Credit Cards | >22% |
| Personal Loans | >12% |
| Directions Home Equity Loan | ~8.25% |
Note: The rate shown is an example. Your actual fixed annual percentage rate (APR) is based on your specific financial situation and creditworthiness.
Your partner in financial growth
At Directions Home Loan, we believe in empowering our customers with knowledge and support. Our dedicated loan officers are here to guide you through every step, answering your questions and ensuring you understand your options.
We offer:
Expert guidance:
Overcome analysis paralysis with a dedicated expert who will help you understand the difference between a home equity loan and an equity line of credit, so you can choose the right loan for your needs.
A transparent process:
We explain everything clearly, from your interest rate to your debt-to-income ratio, so you feel confident and in control of your financial situation.
Personal support:
You’re not just a loan number to us; you’re a person with goals, dreams, and a story. We’re here to listen, support, and provide real human connection whenever you need us.
What could you do with your home’s equity?
A home equity installment loan isn’t just about borrowing money; it’s about investing in your life. You get a predictable lump sum with fixed monthly payments, making it easy to budget for the life events that matter most. You can use a home equity loan calculator to estimate potential loan amounts and see how much you could save.
Some of the most common ways you can use your home’s equity include:
Consolidating debt
Combine high-interest credit card dues and personal loans into one manageable monthly payment. Stop the stress and start saving with a smarter approach to consolidating debt.
Renovating your home
Build the home office, patio, or kitchen you’ve always wanted. A home improvement project not only improves your quality of life but can also increase your property’s market value.
Funding for major expenses
Pay for college tuition, hospital bills, weddings, or other significant life events without draining your savings account. Your home’s equity can provide the funds you need for your family’s future or immediate needs.
How a Directions Home Loan equity loan works.
Our home equity loan process is straightforward and efficient. From initial inquiry to funding, our digital-first approach is combined with expert human support to make your journey a smooth one. We work to get your credit approval quickly, so you can access your funds sooner.
Step 01.
Apply in minutes
Use our secure mobile app or online portal to start your application from anywhere, on any device. It’s fast, easy, and completely secure.
Step 02.
Get real-time updates
Track your loan’s progress from submission to closing with complete transparency through our online banking portal.
Step 03.
Fund your goals
We work to close your loan in days, not weeks. You’ll receive your funds quickly, so you can put it into what matters most.
Blogs & insights
Stay informed and empowered with our latest articles and insights on home equity loans, financial planning, and real estate trends.
When to Refinance a Home Mortgage
When to Refinance a Home Mortgage
FHA vs conventional loans: Which option is best for you?
FHA vs conventional loans: Which option is best for you?
Reasons to refinance your home: A comprehensive guide
Reasons to refinance your home: A comprehensive guide
Frequently Asked Questions
How is a home equity loan different from a HELOC or cash-out refinance?
home equity loan, also called a second mortgage, provides you with a single lump sum of cash at a fixed interest rate with predictable monthly payments. A home equity line of credit (HELOC) works more like a credit card, giving you a revolving credit line with a variable interest rate that you can draw from as needed during a draw period. A cash-out refinance replaces your current mortgage with a new, larger one, giving you the difference in cash.
What are the interest rates and fees of a home equity loan I should be aware of?
Your interest rate is determined by your credit history, your home’s combined loan-to-value ratio, and other factors. At Directions Home Loan, we are committed to transparency and will provide a full breakdown of all potential closing costs and fees before you commit. Also, we do not charge application fees.
How long does the entire process typically take?
Thanks to our streamlined digital process, we can often close home equity loans much faster than traditional lenders. While every situation is unique, we aim to get your funds to you within a few days, not months. We’ll give you a clear timeline after you apply and keep you updated every step of the way.
Is using my home as collateral a risky decision?
Using your home as collateral is a significant decision. A home equity loan can be a very smart financial tool when used responsibly to consolidate higher-interest debt or make value-adding home improvements, but it’s essential that your new fixed monthly payments fit comfortably within your budget. We’re here to help you assess your financial circumstances to make sure this type of loan is the right move for you.
What credit score do I need to qualify?
While specific requirements vary, lenders typically look for a good to excellent credit score (generally 680 and above) for the most favorable terms. However, we look at your entire financial profile, including your income, debts, and the amount of equity you have. The best way to know for sure is to get your personalized assessments.
Customer Testimonials
Ready to take control of your financial future?
Your goals are closer than you think. Let our team of dedicated experts provide you with clear, tailored loan options to unlock your home’s equity. There’s no obligation, just honest guidance from an equal housing lender who puts you first.
