A home equity loan is a worthwhile option if you’re a homeowner in need of a lump sum of cash. These loans feature competitive rates compared to credit cards and personal loans, and you may qualify for a tax deduction. But can you get a home equity loan and reap these benefits if your credit score is bad? It depends. What is a home equity loan? A home equity loan is a type of second mortgage. Home equity loans allow you to borrow against the equity you’ve built in your house. Traditional banks, credit ...