2pare different types of home equity loans. There are two main types of home equity loans: fixed-rate loans and variable-speed financing. Fixed-rate finance has a fixed notice rate and monthly payment for the personal loans online Oregon entire loan term, which can range from 5 to 30 years. Variable-rate financing are interested rates that can change periodically based on an index, such as the prime rate or LIBOR, plus a margin. The monthly payment can also vary depending on the interest rate changes. Variable-rate loans usually have lower initial interest rates than fixed-rate loans, but they also carry more risk of rate increases and payment fluctuations. Continue reading 5. The way you use EMIs (equated monthly payments) to repay your property equity mortgage and reduce appeal? →