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Home Equity Loan Article
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Home Equity Loans
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Choosing a home equity loan can be a momentous decision in most any homeowner’s life. Besides the initial step of purchasing a new home and figuring out what mortgage payment plan to go with, borrowers typically look to home equity as a 'second mortgage' in essence. But, what exactly is home equity and what do you need to know before applying for a loan?
Home equity refers to a borrower using their house as collateral in the event ...
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Top Rated Home Equity Loan
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LendingTree
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LendingTree is one of the top home equity loan sites we came across when researching which providers offer the best features, usability, and loans. Not only do they provide a straightforward and scannable website, they have a solid service.
One of our favorite features is LendingTree's matching system, whereby they compare home equity loans from four separate lenders and you're given a low price guarantee.
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Online approval
- Home equity loan calculators and resources
The Star Reviews team applauds LendingTree in giving their customers a simple-to-complete home equity loan application. While there is online approval, do realize the lenders themselves review your application, appraise your home and close the deal. If you're approved or not, you'll be notified via email, which we liked. LendingTree acts as the 'middle man' in bringing you right to the doorstep of qualified, affordable lenders. Customer support is outstanding here, with friendly and knowledgable telephone and live chat reps. They deserve our Most Popular spot with 5.5 Stars!
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Most Popular Home Equity Loan
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E-LOAN
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You've probably seen their plethora of television commercials and wondered if E-LOAN was worth your time. Let us give you the good news: they are. Upon entry to the E-LOAN website, we were immediately impressed by the number of financial resources available here! 
Not only can you apply for a direct home equity loan right on the site, you may receive a free home equity loan analysis and are given contact with a personal loan assistant.
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HELOC (line of credit) and fixed-term home equity loans available.
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Guaranteed lowest closing costs
Unlike some of their competition, Star Reviews applauds E-LOAN for providing home equity loans through their service. The application is a bit more in-depth, though, which should be expected. You can, however, save it and come back later when you have time to complete it. The E-LOAN website hosts numerous articles, tips, tools and resources should you need them. Customer support was a breath of fresh air, here, as telephone, live chat and email all gave us knowledgable, friendly responses. We gladly assign them our Top Rated spot with 5.0 Stars!
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Home Equity Loan Reviews
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Overall Review: |
 Upon entry to the Home Loan Center website, we were truly impressed by their level of professionalism and resourceful site feel.
There are no application fees for home equity loans and believe it or not, home appraisals aren't required in the application process. You can also be approved for your home equity loan online, which is a huge plus.
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Installment loans and HELOC (line of credit) loans
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Get your loan funded in as little as 10 days
Star Reviews really liked the Home Loan Center website and commends their service for offering extensive resources and helpful financial links. While their loans require you to borrow a minimum of $15,000 (not the case on their competition's websites), they offer a really upstanding service. Customer support via telephone and email were both friendly and informative. They should be rewarded with 5.0 Stars!
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Overall Review: |
 When we landed on the iMortgage Central website, we were pretty impressed by their site design. Although it wasn't out of this world, it was very fluid and easy to sift through.
Initially, we liked that iMortgage Central enables homeowners to get home equity loans for up to 125% of the equity in their homes. In return? Those applying for loans get alot more borrowing power.
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Up to 3 free quotes in 24 hours.
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Get quotes without pulling your credit score.
Star Reviews thinks this is a good place for home equity loan matching, as they aren't a direct lender, but do successfully direct you to someone who can approve your application and get you merrily on your way. Rate lock options are available and though there weren't as many in-depth resources on this website, we think they're a good choice. They earned 5.0 Stars!
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Overall Review: |
We have to admit, we really liked what we found on the LoanApp website! Not only do they provide some great resources, they have alot of financial information available.
Do keep in mind-they aren't a direct lender, which means you will be referred to outside lenders (up to four to be exact). But, LoanApp is very straightforward about their service and quite user-friendly. 
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Helpful market updates and loan calculators.
- Lenders for people with less-than-perfect credit or special credit needs.
Star Reviews felt this site was great in what it offers. They don't try to be something they're not (ie. portraying themselves as a direct lender) and offer some great resources. When filling out your loan application, just choose which loan you're interested in and a 1-2-3 quote request form. Lenders will even contact you with rates and details on the home equity loan you're interested in. Customer support via telephone was happy to help us and we finished our LoanApp research with a positive feeling. They receive 5.0 Stars!
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Overall Review:  |
 If you need a home equity loan, Ditech is a pretty good place to go about your search. Boasting a user-friendly, easy-on-the-eyes website interface, we were initially impressed.
But, Star Reviews did notice that the loan application itself was several pages long, and a little cumbersome to complete. But, should you need to, you can save it under 'My Account' and complete it at different intervals.
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$49 flat fee
-Includes title search, home appraisal, prepaid interest
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Free rate consultations
Our team expected a little more from Ditech, as we've seen their television commercials all over the tube. But, if you're looking for a ton of features and resources, this probably isn't your best choice. They do have some home equity and financing articles, if you need them though. Customer support really disappointed us here, with unfriendly and uninformative reps souring our Ditech experience. They receive 4.5 Stars!
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Overall Review:  |
 When we first discovered the MortgageLoan website, we had high hopes we'd find a good ol' home equity loan here.
Were we wrong or what. While this site does provide some useful financial resources like loan calculators and finance articles, the helpfulness ends just about there.
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HELOC loans available.
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Matches you with home equity lenders who can provide you rate quotes
Our team instinctually felt that MortgageLoan was more interested in selling our information to third party lenders than actually helping us find a decent loan. Far be it from us to actually call a service 'misleading,' but we felt a little uncomfortable when filling out the online form, especially when it asked us to 'rate our own credit.' On top of not requesting our Social, we felt the details provided wouldn't elicit great loan matches. We decided to give customer support a chance, and received an email response completely irrelevant from the question we had asked. Telephone support seemed more interested in pulling our contact information out of us than answering our questions. We didn't love this site, and give them 3.5 Stars!
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