Awasome Home Equity Loan Is It A Good Idea References. Lower interest rates while the interest rate on a. Because a home equity loan is secured by your house.

Here are a few situations that could make getting a home equity loan a good idea: Yes, you can get approved for a home equity loan even with a lot of credit card debt as long as your income is high enough and you have sufficient equity in your home. A home equity loan can be a good option if you have a clear idea of how to use the money and are confident you can repay it.