A home equity loan is essentially a second mortgage and if I were in your situation I would not take out a home equity loan. I would research rates for a home equity line of credit, preferably interest-only payments fixed rates for x number of. months, then y% interest plus prime. 5- 10 year draw period, then 15-20 year conversion to a home equity loan. Pay it off before it converts, is my suggestion. Start with the lender who holds your mortgage ( even better if you also bank with them) as that will be most convenient for managing your HELOC.
