So, if you're looking for extra money for home improvements, your children's education, bill consolidation, an auto, boat or recreational vehicle... look no further! If you own your own home... it's all around you.

The minute you bought your home you began accruing equity in it. Equity is the portion of your home that you own free and clear. Part of it comes from your down payment, part from the portion of your mortgage you've already paid back and part from how it's increased in value as the price of homes in your area rises.

If you've lived in your home a few years or more, you may be surprised at how much equity you have. And it's yours, waiting to be tapped for those special needs.

But there's more to home equity borrowing than knowing you have a strong source of untapped funds. Home equity borrowing is often less expensive than credit cards and personal loans. That's because the amount is secured by your own home - the safest collateral.

There are tax advantages, too. When April 15th rolls around, you can deduct the qualified interest on the credit secured by your home. (Only borrowing for qualified purposes is deductible, so be sure to check with your accountant or tax advisor.)

In this section we'll explain to you the different types of Home Equity Borrowing and help you decide which kind is best for you.

We'll also show you how to calculate your monthly payments and how to determine how much equity is available to you. you'll learn how to apply. And we'll give you some tips for better borrowing.