My wife and I applied for a home equity loan not too long ago. We were give a rate of 7.2% for the loan. I don't know that much about home equity loans and things like that, so I was curious to see if we got a good rate. I tried to research home equity loans, but I must not have done a very good job. The only thing that I could find were sites offering loans to me. I also got bored with my research fairly quickly, so I am sure that if I dug a little deeper, I might have found more.

I think that the rate we were given was a little higher because of the type of loan that we got. I noticed on our bank's website that a loan of 90% of the equity received a lower rate.

Anyway, any input into this area would be greatly appreciated.