Incredible Does One Main Do Home Equity Loans Ideas. Home equity loans are second mortgage loans that you pay off with monthly payments, just as you do with your primary mortgage. Home equity loans are offered by a variety of mortgage lenders.

For example, if your home is worth $250,000 and you owe $150,000 on your mortgage, you have $100,000 in home equity. As you pay down your. Your home equity goes up in two ways: