A home equity loan is a good borrowing tool in today's rate environment, and this option could even save you money in certain cases. Getty Images

Today's high-rate environment and the rising cost of living are leaving many borrowers in a tough spot. Interest rates on credit cards are still sitting near record highs in mid-2025, after all, and with many households still feeling the pinch of inflation , borrowers may be looking for another way to get access to the funds they need without draining their savings.

With home equity at a record-high level , home equity loans may be an attractive way to borrow money at a lower rate than what is available with a credit card or personal loan. With a home equity loan, you borrow a portion of your home's equity via a lump sum loan with

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