Discover Home Equity Loans
in Home Equity Loans from Discover Bank · NMLS ID #684042
Would you recommend Discover Home Equity Loans to your friends?
| Community Rating |
Rating not yet determined |
| Loan Amount | $35,000 - $200,000 |
| APR (Fixed APR) | 3.99% - 11.99% |
| Loan Term (Years) | 10 - 30 years |
Discover Home Equity Loans Review
Discover Home Equity Loans is offered by Discover Bank (NMLS #684042), a bank founded in 1985 and based in Greenwood, DE. Discover Home Equity Loans is available in 50 states (and Washington, DC).
How much can you borrow with a Discover Home Equity Loans home equity loan?
A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.
Discover Home Equity Loans allows borrowers to apply for home equity loans of up to $200,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
Typically, borrowers with good credit can qualify for up to 85 percent of the value of the property less the balance on their first mortgage.What home equity loan rates does Discover Home Equity Loans offer?
Discover Home Equity Loans offers home equity loans with a fixed APR that ranges from 3.99% up to 11.99%.
Remember the APRs of home equity loans do not include points and financing charges, just the interest rate.
What is the estimated funding time for a home loan via Discover Home Equity Loans?
Discover Home Equity Loans will typically approve (or deny) a home equity loan application within 0 hour and fund home equity loans within 14 and 21 days of approval.
What fees does Discover Home Equity Loans charge for a home equity loan?
Good news. Discover Home Equity Loans does not charge a mortgage origination fee.
Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
What types of property can you use as security for a home equity loan with Discover Home Equity Loans?
Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. Discover Home Equity Loans will consider loans secured by the following property types:
- Primary home.
- Secondary homes and vacation properties.
- Investment properties and house flipping projects.
Contact
- Headquarters
-
502 E. Market Street
Greenwood, DE 19950 - (800) 347-2683
- Visit Site
Other Services by Discover Bank
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| Annual Fee | $0 |
| No Origination Fee | |
| No Prepayment Fee | |
| Late Fee Amount | $37 |
Discover Home Equity Loans Community Reviews
Would you recommend Discover Home Equity Loans to your friends?
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