How to Access Home Equity at Competitive Rates Despite High Interest Rates

Homeowners should consider using home equity to fund major home renovations or repairs.
Home equity loans, HELOCs, and cash-out refinances allow homeowners to borrow from home equity at lower rates than other options.
Shopping around, maintaining good credit, not borrowing more than needed, and considering variable-rate loans can help secure a lower rate.
Home equity loans and HELOCs provide tax deductions and other perks when used for home improvements.
Borrowers must make monthly payments and repay the loan fully to avoid risking foreclosure.