RC_LA_SS_200.1 Introduction to Equity Products

Home equity loans and home equity lines of credit allow borrowers to access the equity they have built in their homes for a wide range of financial needs. As these products have evolved, they have become an important complement to traditional first-lien mortgages, offering different structures, repayment options, and use cases.

Introduction to Equity Products provides a foundational overview of the two primary home equity products—home equity lines of credit (HELOCs) and closed-end home equity loans (HE loans). The course explains how these products are structured, how they differ from one another and from traditional mortgage loans, and how interest is calculated and funds are disbursed under each product type.

Learners examine common consumer use cases for home equity products, including debt consolidation, home improvements, and short-term financing needs. The course also introduces key regulatory concepts that govern home equity lending, with an emphasis on how open-end and closed-end credit are treated differently under federal and state laws.

 

This is a single-family/residential course.

Topics:

• Introduction to Equity Products
• Calculating Interest and Funding Methods
• More About Equity Products
• When Are Home Equity Products Used?
• Laws and Regulations

Seat time approximately 1 hour.

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