Loan or Line...Compare for yourself.

	Home Equity Loan	Home Equity Line
What it is	Fixed Amount. Fixed Rate. Fixed monthly payment. An installment loan in which you borrow a lump sum and have a specific term and monthly payment.	Flexible credit line. Flexible monthly payment. A revolving line of credit that you can access when needed. Only pay interest (or $100) on the amount of the line you use.
Good for	Consolidating debt, home improvements, auto purchase college education	Consolidating debt, emergency fund, major purchases
Loan Size	Based on the available equity in your home.	Based on the available equity in your home.
Payments	Fixed monthly payment of principal and interest that you can budget for	Choose Interest Only payment or a percentage of outstanding balance to keep payments affordable
Tax Deductibility	Interest may be tax deductible. Consult your tax adviser.	Interest may be tax deductible. Consult your tax adviser.
Access to funds	Receive funds in lump sum at loan closing.	Convenience checks In person
Special Features	Different term options available.	Lock Feature lets you lock a portion of the line into a fixed rate.