Even with a troubled economy that has most people scared to borrow money, there are still fantastic local home equity loans out there available for all of your home needs. With all of the dire housing market news constantly on the television and radio daily, youd think its impossible to get any local home equity loans. The best way to find out about all of the available local home equity loans is to do extensive searching online. There will be listings of every top lender of local home equity loans. There are more chances to compare home equity rates online than any place else. Some of the reasons that most people seek out local home equity loans include debt consolidation, wanting to remodel your home or needing to deal with lingering home repairs. Additional reasons include paying off medical bills, payments for college tuition or needing quick cash for a vacation. The top websites promoting local home equity loans will ask you specific questions and based on those answers determine how to structure the home equity loan. The questions will be based on your payment history to your mortgage lender and other credit related questions. Even with some questionable credit issues, in most cases you can still be approved for most local home equity loans. The most knowledgeable representatives of institutions that provide local home equity loans will advise that home equity loan rates charged are tax deductible. In general unlike with refinancing your home, when you apply for a home equity loan, many lenders of local home equity loans will pay your closing costs. The key is to compare every offer from each lender of local home equity loans. The goal is to get the most affordable home equity rate possible. The process of getting the loan usually takes only a few minutes to complete.