Wells Fargo Home Equity is a secured line of credit designed for those looking to access higher amounts of funding at lower interest rates. This solution allows you to use the equity you’ve built in your home as collateral to fund projects, pay off debt, or cover unexpected expenses.
With options that fit a variety of needs, Wells Fargo offers both revolving lines of credit and fixed-rate loans, combining traditional customer service with digital tools. Here’s a closer look at what the bank has to offer.
Key Features
Wells Fargo’s home equity product includes two main options:
Home Equity Line of Credit (HELOC): A revolving line of credit with flexible withdrawals, variable rates, and ongoing access to your approved limit.
Home Equity Loan: A fixed-rate loan with a lump-sum payout, steady monthly payments, and a predictable payoff schedule.
Both options offer the following features:
- Loans starting at $10,000
- Flexible repayment terms, up to 20 years
- Access through online banking or a dedicated card (for HELOCs)
- Withdrawals available as needed (HELOC only)
The approved amount depends on the home’s available equity, the borrower’s financial profile, and the property’s location.
Main Benefits
Choosing Wells Fargo Home Equity gives you access to several advantages, such as:
- Lower interest rates than personal loans and credit cards
- Flexible payment and term options
- Withdraw funds as needed without using the full credit limit (HELOC)
- Expert support, both in person and online
- Option to consolidate high-interest debt at better rates
Additionally, Wells Fargo allows you to convert part of your revolving balance into a fixed-rate portion, offering more control over your monthly budget.
