House Equity Mortgage vs. Personal bank loan: What’s the real difference? Lea Uradu, J.D. was a great Maryland State Joined Income tax Preparer, State Formal Notary Social, Authoritative VITA Taxation Preparer, Irs Annual Filing Season System Fellow member, and you can Tax Writer. What is the Difference in a home Equity Loan and an excellent Personal bank loan? Property security mortgage and you may a personal loan each other render one to-big date, lump-contribution payments which might be needed to be distributed back in payments over a decided-abreast of time period.