Work on your house. And let your house work for you.
Home equity loans are like a reward. Because you've worked hard to pay down your mortgage and build up your home's value, you get to borrow at a great rate. With a traditional home equity loan, you can spend the money on anything you want - trips, tuition or big-ticket purchases. With an improvement loan, the money goes to upgrade your living space. Either way, you can thank your home sweet home for making it all possible.