Loan option
Home Equity & HELOC
Put your home's equity to work — without touching your first mortgage.
A home equity line of credit (HELOC) or a home equity loan lets you borrow against the value you've built in your home — while leaving your existing first mortgage exactly as it is.
That matters when your current mortgage rate is lower than today's market: instead of refinancing the whole loan, you add a second one only for the cash you need. A HELOC works like a flexible, reusable credit line; a home equity loan is a one-time lump sum at a fixed rate.
Whether it's a renovation, debt consolidation, tuition, or a financial cushion, we'll compare a HELOC, a home equity loan, and a cash-out refinance so you choose the lowest-cost path.
Who it's for
Is the Home Equity & HELOC right for you?
- You want cash but love your current first-mortgage rate
- You're funding a renovation or big project
- You're consolidating higher-interest debt
- You want a flexible credit line you can reuse
Good to know
Common questions
HELOC or home equity loan?
A HELOC is a revolving line you draw from as needed (great for ongoing or uncertain costs); a home equity loan is a fixed lump sum (great for a known one-time expense). We'll match it to your plan.
How much can I borrow?
It depends on your home's value and how much you still owe — lenders look at your combined loan-to-value. We'll pull the numbers and show your available equity.
Will this change my first mortgage?
No — a HELOC or home equity loan sits behind your existing mortgage, so the rate and term you already have stay exactly the same.
Ready to explore the Home Equity & HELOC?
Apply in minutes or get a no-obligation quote — and a licensed loan officer will tailor it to you.