A Home Equity Loan is a fixed-term, fixed-rate mortgage that is essentially a second mortgage on your home. It allows you to turn the equity in your home into cash you can use for whatever you need. Usually, the term of the loan is shorter than the first mortgage on your home and the amount of the loan is usually smaller. This way the payment can still be affordable even with a shorter term. For more information, you may call us at 410-668-4400.