A home equity loan is a loan that uses the borrower’s home equity as collateral. It does not replace the first lien mortgage, and instead, it takes a second position. Generally, you can only borrow up to 75 to 80% of the loan-to-value ratio in your home.

 · The Offer. Currently, Wells Fargo Bank is offering a new HELOC or home equity loan to customers with a 0.50% interest rate deduction for new accounts opened between January 1, 2015 and April 3, 2015. The home equity line of credit offered through Wells Fargo provides customers with the following long lasting benefits:

Wells Fargo offers traditional and specialty home loan products for borrowers at every financial stage of life. Wells has programs designed for first-time home buyers, union members and others.

Home Equity or Mortgage Account A potential attorney-in-fact ("Agent") must complete and submit the following required documentation: The Submission Cover Sheet and notarized Affidavit provided on the following pages.

Wells Fargo providers mortgage products for its retail customers for those who are looking to buy a home, improve their home, use equity from their home as well refinance their mortgage. Its product range include conforming and fha loans including both fixed rate.

I love Wells Fargo and would recommend them to anyone. I have my home mortgage through them and they have been wonderful. They have very competitive mortgage rates. The process of applying for and setting up the mortgage was made very easy by my assigned mortgage representative. The approval process was very fast. I love the website.

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Wells Fargo is one of the largest mortgage lending institutions in the U.S. The bank backs that distinction up with many different mortgage options that vary in term-length, style and size. This breadth provides a high level of customization to make choices based on your specific profile.

Option 2: Home equity line of credit. A home equity line of credit (often called a HELOC) allows you to access equity you’ve built without having to refinance your mortgage. This may be a good option if you already have a great mortgage interest rate and don’t want to risk a higher rate just to access equity.

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