How Does A Home Equity Loan Work?

Do you currently own a house? If so, do you have a loan on it? If you don't have a loan, you have 100% equity in the house. However, you'll have less equity if you have a loan. You can borrow money from the equity in your house if you have enough of it, but you must apply for a home equity loan. Are you wondering how this works? If so, keep reading to learn how home equity loans work.