Possibilities so you're able to Family Equity Fund or HELOCs When you are a homeowner and want dollars to pay for house solutions or a huge get, property collateral loan or family collateral line of credit (HELOC) shall be an effective borrowing from the bank choice. These types of choices do have disadvantages, though. Both types of borrowing from the bank often have a origination or closure charges, and you can one another also use your home since security, meaning you chance shedding your residence if you fail to build your money. If you don't have to get that risk or shell out those costs, there are a number of selection that could be a better complement.