Lower interest rates: If you're looking for ways to borrow money, a home equity loan offers some of the lowest rates available. Personal loans and credit cards, on the other hand, often have interest rates in the double digits.

Easier access to financing: A home equity line of credit allows the borrower to be their own banker, drawing on their available home equity as needs arise.

Potential for a tax deduction: There's a chance you can write-off a portion of the interest you pay on your home equity loan if you use the money to pay for home improvements. Think about substantial renovations that will add value or extend the life of the home. If home renovations are a part of your larger financial plan, it can be helpful to rely on a home equity loan rather than a credit card.

Leveraging your home equity is a smart way to finance renovations and home improvement projects. Let the experts at National Iron Bank help you tap into your home's equity today. Click here to learn more!

Excerpts from National Mortgage Professional and Forbes