Many people get a home equity loan or home equity line of credit from their current lender or bank without considering other options, but this can be restrictive. Home equity loans and HELOC products have a variety of terms and conditions. By shopping around, you may find an institution that offers a home equity product that will perfectly fit your needs.

Make sure you’re doing business with a reliable, reputable business. A trustworthy lender will be able to provide all of the details of your home equity loan or line of credit in writing. Don’t forget to ask family and friends for recommendations. Online reviews may not be as thorough as hearing feedback from the people closest to you, and it is likely that you will share similar expectations.

Also make sure that you understand the full cost of the loan, or line of credit, and are comfortable with the terms.