$50,000 home equity loans and HELOCs
A $50,000 home equity loan or HELOC can help with a kitchen remodel, an addition or consolidating several larger balances. It's secured by your home, which could be at risk if you don't make the payments. Here's what to expect and how checking your options with Lendara works.
What to expect when borrowing $50,000 against your home
- At $50,000, the gap between a fixed-rate home equity loan and a variable-rate HELOC can add up over the years. Compare how each would be repaid, not just the first payment.
- Closing costs, appraisal fees and annual fees vary by lender. Ask for them in writing and include them when you compare the total cost.
- Terms of 5 to 30 years may be available, depending on the lender. A longer term lowers the monthly payment but adds interest over the life of the loan.
- How much you can borrow depends on your home's value, your existing mortgage balance and each partner's own criteria, which usually include your credit history and income.
- A home equity loan or HELOC is secured by your home. If you don't make the payments, you could lose your home, so make sure the payment fits your budget before you apply.
Estimate a home equity loan payment
Enter an amount, a term and an APR to see an illustrative fixed monthly payment and total interest.
Estimates only, based on the numbers you enter. Not an offer of credit. Lendara is not a lender.
How checking your options works
When you check your options for $50,000 in home equity through Lendara, you answer a few questions about your home, your current mortgage, your income and the amount you want.
If participating lenders have options for you, you can compare them side by side: APR, fees, closing costs, whether the rate is fixed or variable, and the term. Nothing is accepted until you choose an offer.
If you decide to apply, the lender reviews your application, may check your credit and may require an appraisal of your home, and decides whether to approve you and on what terms. Lendara doesn't make that decision.
Frequently asked questions
What would a $50,000 home equity loan cost each month?
That depends on the APR, term and fees a lender offers you. Enter an APR and a term in the calculator above to see an illustrative payment on $50,000; an actual offer may differ.
Should I choose a home equity loan or a HELOC for $50,000?
A home equity loan gives you the full $50,000 at once with fixed payments. A HELOC lets you draw as you go, often at a variable rate. Both are secured by your home.
Who decides how much I can borrow against my home?
The lender does. Lendara is a free marketplace, not a lender, and doesn't make credit decisions. Each lender sets its own limits and terms.
Related guides
- Home Equity Loan vs. HELOC: What to Compare
How a home equity loan differs from a HELOC, what it means that your home secures the debt, and the details worth comparing before you borrow against your equity.
- How Much Can You Borrow Against Your Home?
How lenders estimate your usable home equity, what combined loan-to-value means, and what else shapes how much you may be able to borrow with a home equity loan or HELOC.
- How to Compare the Total Cost of a Loan (Not Just the Monthly Payment)
Why the lowest monthly payment isn't always the least expensive loan, and a step-by-step way to compare offers by APR, fees, term and the total you'll repay.
Lendara is not a lender and does not make credit decisions. Lendara is a free online marketplace that connects you with participating lenders, who set their own eligibility rules, rates, fees and terms. Lendara may receive compensation from partners, which may affect which offers appear and their order. Lendara is a marketplace, not a lender, and does not make credit decisions. Home equity loans and HELOCs are secured by your home, and you could lose your home if you do not repay. Rates and terms vary by lender and are determined by the lender; HELOC rates may be variable. Applying with a lender may result in a hard inquiry and may require an appraisal. We do not guarantee approval, rates or savings.