Home Equity Products Comparison
Loan type / Features	Advantages	Best Option If:
Home Equity Line of Credit	Borrow up to 100% of your home's equity (its worth minus what is owed on your first mortgage). Draw on the line of credit for up to 5 years and take up to an additional 10 years to repay. Make payments only on the outstanding balance.  As the balance is paid off, the credit line is instantly replenished. Access your line of credit by check, in person, by phone or through home banking, or by calling a Member Service Representative. Interest may be tax-deductible (consult your tax advisor for details).	You are looking for both current and future borrowing options. You need lower monthly payments to manage your budget management.
Home Equity Installment Loan	Use your home equity loan for one-time purchases when you know exactly how much you need to borrow. Fixed monthly payments for the term on the loan. You choose the term on the loan - up to 15 years. Funds are available at loan closing and paid in a lump sum.	You know exactly how much you need to borrow. You need fixed payments to manage your budget.