$120,000 Loan amount $950 Monthly payment²

Home Equity Loan

Home equity loan rates as low as 8.519% APR

Get fast access to your funds, with terms from 5–30 years². Check your fixed interest rate and credit limit in minutes, with no impact on your credit score.

Lock in your fixed rate to turn your home equity into cash—fast

Get your fixed rate in minutes

See your home equity loan rate and maximum loan amount, with no impact to your credit score.


Quick & easy online application

Customize your HELoan offer and finish your online application in minutes.


Fast access to your money

Quick closing and your HELoan funds accessible in as few as 11 days.

A home equity loan through Prosper uses up to 95%1 of your home equity to access up to $249k* at a low, fixed rate with 5–30 year2 term options.

What people are saying

image of five squares lined horizontally with a star inside each square, and 4 and one half squares are filled in green to indicate a 4.5 star overall rating
Net Promoter Score®
The home equity loan process could not have gone more smoothly. The entire team was knowledgeable, responsible.
Robert from Arizona
Net Promoter Score®
Great application and closing experience! The application process was very easy.
David from Florida
Net Promoter Score®
The loan officer and customer advocate did a good job answering my questions in a timely manner.
Steven from Florida
Net Promoter Score®
Outstanding to work with. Easy customer interface on webpage. Friendly. Very prompt in all aspects. Just terrific customer service.
Charles from California
Net Promoter Score®
Easiest loan I have ever done. Closed in 2 weeks. Streamlined process. Great rates.
Omar from California

A home equity loan for what you need—any purpose***

From home improvements and major purchases to debt consolidation, family expenses, and everything in between.

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How a home equity loan works

How much home equity can you tap into?

My property in is worth  and has an est. mortgage balance of , which gives me an est. $110,000 of home equity to tap into.
Let’s give your home equity more time to grow—you’ll need $25,000+ in home equity to be eligible. In the meantime, a personal loan could be an option. Get my personal loan rate.

Home equity loan resources

See your home equity options side-by-side

Get your HELoan rate with no impact to your credit score

An experience backed by sound, secure technology

Common HELoan questions

Visit the Prosper Help Center for more answered questions

A home equity loan (HELoan) is a loan that typically has a fixed interest rate and is disbursed in a lump sum at the beginning of the loan.

It’s a bit like a second mortgage: you’ll start repaying it immediately through fixed monthly payments. HELoans are secured by your house. This allows you to access larger sums of money at lower rates.

A HELoan is a loan with a fixed rate and fixed monthly payments. It is secured by your home, much like a second mortgage.

Lenders will determine how much you may borrow by considering the amount of equity in your home, your credit score, and your debt to income ratio. A HELoan is disbursed in one lump sum, and you’ll make fixed monthly payments for the duration of your loan.

A HELOC is a revolving line of credit that typically has a variable interest rate. A HELoan is a fixed rate, fixed term loan.

A HELOC is a revolving line of credit that lets you draw against your credit limit as you need to access funds*. Like a credit card, you can borrow and repay up to the credit limit during the draw period. On the other hand, a HELoan is paid out in a one-time disbursement, and you’ll start repaying on the full balance immediately through fixed monthly payments. Ultimately, a HELOC is more flexible while a HELoan is more structured.

For more information on the differences between a HELOC and a HELoan and how you might choose if one of them is the best option for you, visit Prosper’s popular blog article that breaks it all down: HELOC vs HELoan: What’s the difference?

In some cases, home equity loan interest may be deductible, but it’s critical to note that this is a complex issue, so you should talk to a tax professional and check with IRS guidelines before making a decision.


If you have built up equity in your home and you’re looking to finance a specific major expense, then a HELoan could be a great fit for you.

The fact that it’s secured by your home allows you to access a larger total amount at a lower interest rate—and unlike a HELOC, which typically carries a variable interest rate, a HELoan usually comes with a fixed interest rate. This means zero surprises when it comes to your monthly payments, and no temptation to spend beyond your budget.

In most cases, borrowers can choose the term that best suits their needs, with terms up to 30 years.

In general, the longer the term, the lower the monthly payment. On the other hand, shorter terms typically come with lower annual percentage rates (APRs).

Home equity is just the beginning. Prosper has smart, simple tools for borrowing, saving, and earning with products like personal loans, a credit card, and investing.

*Eligibility for a HELoan up to $249,999.99 depends on the information provided in the home equity application. Depending on the lender, HELoans may require an in-home appraisal. 

**The amount of time it takes to get funds varies. It is measured from the time the lender receives all documents requested from the applicant and depends on the time it takes to verify information provided in the application. The time period calculation to get funds is based on the first 4 months of 2023 loan fundings, assumes the funds are wired, excludes weekends, and excludes the government-mandated disclosure waiting period.
***For Texas home equity products through Prosper, funds cannot be used to pay (in part or in full) non-homestead debt at account opening.
1 Depending on the lender, qualified home equity applicants may borrow up to 80% – 95% of their primary home’s value and up to 80% – 90% of the value of a second home. In Texas, qualified applicants may borrow up to 80% of their home’s value. HELoan applicants may borrow up to 85% of the value of an investment property (not available for HELOCs).

2 For example, a twenty-year $60,000 HELoan could have an interest rate of 8.049% and additional costs, fees or charges up to $3,722 for an annual percentage rate (APR) of 8.519%. You could receive $57,213 and make 240 scheduled monthly payments of $521.43.

Home equity products through Prosper may not be available in all states.
All home equity products are underwritten and issued by Prosper’s Lending Partners. Please see your agreement for details.
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