It shouldn't be too hard to decide between a HELOC or a home equity loan. If you want a fixed monthly interest rate and a fixed payment and don't mind borrowing a lump sum, get a home equity loan. If you don't mind a variable interest rate and want to borrow as you go, on the other hand, get a HELOC. Just remember that your monthly sba eidl loan forgiveness payment might fluctuate as rates rise or you borrow more. Equity toolTips('.tooltip_post_id_custom_260684ed3fd253c10f408474501e3d50','Equity is the value of any assets you own after any debts are paid\. In the context of your property, your equity refers to the difference between its market value and the mortgage you owe on it\.'); is the difference between the current value of your house and the amount you owe on it. For example, if your home is worth €400,000 and your mortgage is €100,000, then you have equity in your property of €300,000.