For example, a $100,000 home equity loan can provide the capital needed for substantial home improvements, debt consolidation or other significant financial needs — and considering that the average homeowner has over three times that amount of equity currently,

Compare two options for accessing the cash in your home — cash-out refinancing or home equity loans — to pay for renovations, consolidate debt or support education expenses. Includes pros, cons and who they're best for.

If you need to borrow cash, taking out a home equity loan is one of the most affordable ways to do it. Rates on these loans and home equity lines of credit (HELOCs) tend to be much lower than other financing products, such as credit cards and personal loans, and they can save you significantly in the long run.