Discover Debuts Home Equity Loans

Discover Debuts Home Equity Loans

Personalized Service Simplifies Process for Homeowners

RIVERWOODS, Ill.--(BUSINESS WIRE)-- To meet the needs of customers with larger financial obligations, Discover Financial Services introduces Discover Home Equity Loans to bridge the gap between its personal loan and home loan products. Discover Home Equity Loans are originated by Discover Bank.

When it comes to large financial obligations, Discover Home Equity Loans offer homeowners the opportunity to simplify their finances. This can include supporting home improvement projects, paying for major expenses, or consolidating debt into a single, fixed monthly payment.

"Many people have more equity in their homes than they think they do," said Gary Harman, vice president of lending and home equity loans for Discover. "We're giving them the opportunity to leverage that equity to do things like make home improvements and consolidate debt."

From the start, Discover assigns each homeowner to a Personal Banker to guide them through the entire process while giving them options to suit their specific financial needs. Homeowners have the ability to select from four payment terms and lock in at a competitive interest rate.

Features include:

  • Streamlined application process with less paperwork

  • Loans from $25,000 - $100,000

  • 7-, 10-, 12-, and 15-year terms

  • Fixed interest rates starting as low as 5.99% to 11.99%

  • No origination fees

  • Updates on loan status through closing

  • Receive money in as little as two weeks

The Discover Home Equity Loans website is located at

Discover's growing suite of direct banking products includes credit cards, home loans, private student loans and personal loans, as well as checking, savings and money market accounts.

About Discover

Discover Financial Services (NYS: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit


Katie Henry, 224-405-4437
Abbe Kalina, 224-405-5175

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