What is a Home Equity Loan (HELOAN)?
A HELOAN is a way to use your home equity as collateral, but instead of getting a line of credit, you'll receive one lump sum that's repaid over time with a fixed interest rate. It's similar to a home equity line of credit (HELOC), but with a HELOC, you have a line of credit you can draw from and pay back, usually with a variable interest rate.
Not sure if a HELOC or a HELOAN is right for you? Find out the difference between a HELOC and a HELOAN to help you decide.
Already started your application? Return to HELOAN application
HELOAN Calculator
Benefits of a WaFd Home Equity Loan
- We pay closing costs for our existing WaFd home loan clients on HELOAN up to $250,000*
- Available for owner occupied, second homes, and investment properties
- No annual renewal fees
* Closing costs are paid only for primary homes, not for second, vacation, or investment properties.
Frequently Asked Questions
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