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I am a current homeowner with a property that has no mortgage (everything has been paid off). A family member is in need of some cash to consolidate some credit card debt and I would like to help them out. However, the amount of money that they need is in the upwards of 100k.

Using my home's equity to open a secured loan, what I've found so far are two main types of secured loans: HELOC and home equity loan.

With a HELOC, I feel like this is more of a credit card that uses my home as collateral. I rather have one lump-sum payment now and pay back a loan at a fixed rate. So my issue with this is that since the rates are variable in relation to the prime rate (which I believe will rise in the upcoming years), I don't want uncertainty when repaying the HELOC.

With a home equity loan, most banks that I've checked (Citi bank, Chase bank, 5/3 bank, many others) only allow a home equity loan to be opened as a 2nd lien mortgage and I must have a current mortgage. Since I don't have a 1st lien mortgage, I do not qualify (according to the banks that I checked).

My question is, besides these two products, do I have any other option/product to request a one-time, lump-sum loan that I can pay back (at a fixed rate, preferably) over the next 10/15 years? And are there any banks that allow home equity loans as a 1st lien mortgage? If not, am I only stuck with a HELOC?

I tried searching online for others who had the same problem but most forums (and banks) are trying to push HELOC above everything else. As mentioned above, I rather not pay variable rate loans. The closest forum that I found that describes my issue is here: https://www.nerdwallet.com/community/t/take-out-loan-against-paid-off-house/8000
However, the community suggested opening a HELOC.

Let me know if you have any thoughts, I appreciate any help. Thanks.

Disclaimer - I trust this family member to help pay me back. I understand the risks of what will happen if I fail to make payments on any loan that uses my home as collateral.

Yes, the product you want is a fixed rate loan. As rates were dropping in the late '90s, I went from a "Mortgage" to a "Home Equity Loan." The latter had a fixed rate, 15 year term, and a crediting structure for payments that ran by the day. i.e. unlike a mortgage whose amortization is unchanged if you make every payment 10 days early vs 5 days late, this product lent itself to prepayments, or early full payments. That aside, it had no closing costs, but a higher rate. So refinancing from a 6% fixed mortgage to a 5.5% HEL actually made sense. As did another refi to 5% a few years later.

TL:DR - The product is called a Home Equity Loan, and you should shop around to find one that suits you.

Mandatory disclaimer - You should not do this. Not unless you have the assets to take this on yourself, and say goodbye to the $100K. Years ago, I 'lent' my sister in law $10,000, and I told my wife that I never expected to see it again. Which I haven't. The $10K paid off a card she defaulted on, and set her up for a refinanced mortgage. She stuck to my one condition, that she take $400/mo from the reduced payments, and deposit to her matched 401(k). There's over $50K in that account from this deal. I offer this long anecdote in case the family member will be a burden to you in the future and somehow this will still benefit you by lessening that future issue.