Home equity
Three ways to tap equity. One honest comparison.
Cash-out refinance, HELOC, or home equity loan: the right one depends on your current mortgage rate, how much you need, and how you want to repay it. Here is the plain-English version.
| Cash-out refinance | HELOC | Home equity loan | |
|---|---|---|---|
| Structure | New first mortgage that includes your cash | Credit line behind your existing mortgage | Fixed lump-sum loan behind your existing mortgage |
| Your current mortgage | Replaced | Untouched | Untouched |
| Rate type | Usually fixed | Usually variable | Usually fixed |
| How you receive money | Lump sum at closing | Draw as needed during the draw period | Lump sum at closing |
| Tends to win when | Your current rate is near market and you want one fixed payment | You want flexibility and your current rate is excellent | You want a fixed payment and your current rate is excellent |
How we handle equity requests
Cash-out refinances are fully supported today. HELOC and home equity loan scenarios get a licensed-team review: we model the comparison with your real numbers, tell you which structure wins and why, and are candid about what we can arrange directly versus what your best move is even when it is not through us. No automated promises for products we cannot deliver.