Question 1

How much can I borrow with a home equity loan in San Carlos?

Accepted Answer

Most lenders allow up to 85% combined loan-to-value. If your home is worth $2M with a $1M mortgage, you could access up to $700K while keeping 15% equity.

Question 2

What's the typical rate for a home equity loan right now?

Accepted Answer

Rates vary by borrower profile and market conditions. As of February 2026, expect 7-9% depending on credit score, equity position, and lender type.

Question 3

Can I deduct home equity loan interest on my taxes?

Accepted Answer

Interest is deductible only if you use funds to buy, build, or substantially improve the home securing the loan. Consult a tax advisor for your situation.

Question 4

How long does it take to close a home equity loan?

Accepted Answer

Online lenders close in 10-14 days. Banks take 30-45 days. Credit unions fall in between at 20-30 days depending on appraisal turnaround.

Question 5

Should I get a HEloan or a HELOC in San Carlos?

Accepted Answer

HEloans work best when you need a known amount upfront. HELOCs fit ongoing projects where you'll draw funds over time at variable rates.

Home Equity Loans in San Carlos: Fixed Rates, Lump Sum Cash Access