Home Equity Loans from Discover

A simple way to
unlock your equity.

Low Fixed Rates | Zero Origination Fees | Great Customer Service

Your Loan Options in Minutes

Apply online or over phone, fast and easy. Loan options from $35,000 to $200,000.

Low Fixed Rates. Zero Origination Fees.

Fixed rates starting at 3.99% APR.Plus, zero application and appraisal fees.

Help on hand 7 Days a Week

Get your own personal banker and a loan team dedicated to processing your application.

Rates, Terms & Fees

Feel secure with the same fixed rate and payment each month.

Interest Rates	Fixed interest rates from 3.99% - 11.99% APR View APR disclosure
Loan Amounts	$35,000-$200,000
Payments	Fixed Monthly Payments
Terms	10, 15, 20 & 30 Years Loan Payment Example
Application Fees	$0
Origination Fees	$0
Appraisal Fees	$0
Cash Required at Closing	$0

Apply Now

Discover Home Loans pays all closing costs incurred during the loan process, so that you don’t have to bring any cash to your loan closing.

In the event that you decide to pay off your loan balance in full within 36 months after your loan closes, you will be required to reimburse Discover for some of the closing costs that we are paying on your behalf, not to exceed $500.00.

Reimbursable closing costs will include all title fees, recording fees, and mortgage/transfer taxes. If you reside in Connecticut, Minnesota, New York, North Carolina, Oklahoma, or Texas you are not required to reimburse the closing costs.

Use our calculators & see what you think

Loan Amount Calculator

Turn your home equity into cash

Here's what our customers are saying

“This experience of applying and receiving my home equity loan was the quickest easiest and most pleasant experience I’ve ever had!”

Denise S, 9/19/19

“I almost cannot believe how easy it was and thanks to your program I am out of credit card debt and my home projects that needed fixing are fixed.”

Stacey M, 11/25/19

“Because I was able to submit all the required documentation for the loan on line, the approval process was fast. It could not have been much easier for me or more convenient.”

Larry D, 12/18/19

Here's what our customers are saying

“This experience of applying and receiving my home equity loan was the quickest easiest and most pleasant experience I’ve ever had!”

Denise S, 9/19/19

“The process was EXTREMELY user friendly, no closing costs or appraisal fees (HELLO awesome), and everyone i talked to throughout the process were AMAZING!”

Megan F, 11/5/19

"I'm very glad Discover does home equity loans because I don't think we would have had such an easy process with other financial institutions we thought about checking out. "

Troy J, 12/18/19

One loan for multiple goals.

Frequently Asked Questions

Main

A home equity loan lets you borrow a fixed amount, secured by the equity in your home, and receive your money in one lump sum. Typically, home equity loans have a fixed interest rate, fixed term and fixed monthly payment. Interest on a home equity loan may be tax deductible under certain circumstances. Please consult your tax advisor to see if you qualify.

Learn More

Main

With a home equity line of credit (HELOC), you get the flexibility to withdraw money as you need it up to a predetermined credit limit and repay the loan over a fixed term. Typically HELOCs have a variable interest rate that can increase or decrease over time. Generally, there is a fixed "draw" period, during which you may with draw funds, repay them or a portion of them up to a credit limit, similar to a revolving credit card. During the draw period, many lenders permit you to make interest-only payments. After the draw period ends, you can no longer request funds and are required to repay the outstanding balance over the remaining term of the loan. By contrast, a home equity loan gives you all of your funds upfront in a lump sum and usually comes with a fixed interest rate and monthly payment that never change for the life of the loan. Discover offers home equity loans and mortgage refinances instead of HELOCs.

Learn More

Main

Benefits of a home equity loan or mortgage refinance from Discover may include low interest rates and ZERO cash due at closing. Since a home equity loan or mortgage refinance is a secured debt, the average interest rate may be lower than what you'll pay on an average credit card or other form of unsecured debt. With Discover, you will not have to pay any application fees, origination fees, or appraisal fees. Additionally, home equity loans also offer potential tax savings as interest payments may be tax deductible for certain home improvements. Consult your tax advisor as to the deductibility of your interest.

Learn more

Check Our FAQs