Home Equity

The part of the house you already own.

Equity builds quietly, payment after payment — a loan officer helps you decide what it should become: a renovation, a rental, or a debt finally gone.

Equity that sits there earns you nothing.

It's value on paper until it's put to work — and what it's put to work on is the whole decision.

A house that finally fits. Spent on a renovation, equity can raise the home's value while making the space work for how your family actually lives now.
The next rung up. Used as a down payment on a rental, one property's equity becomes the thing that builds the next asset your family owns.
Debt replaced by one payment. Scattered high-interest balances become a single structured payment, which for most households lowers what goes out the door every month across everything owed.

The rear elevation of a modern two-storey home at dusk, seen across its lawn and patio

Your path from a number to a decision.

The real question is rarely HELOC or cash-out refinance — it's what you're solving for and where your current rate sits.

The back garden of a two-storey home in early morning light: a paved patio with two empty chairs, clipped shrubs and a mown lawn

Start with a guided quote. Tell us your current balance and rate, a rough sense of the home's value, and what the money is for.
Get matched with a loan officer. One person, not a call center — someone who owns your file from this point through funding.
Check the equity cushion. Most lenders want you to keep 15% to 20% of the home's value after borrowing, so the first question is how much is actually available.
Compare a HELOC to a refinance. If your current rate is higher than today's, a cash-out refinance can improve it while releasing cash; if it is lower, a HELOC leaves that mortgage alone.
Size it to the purpose. A renovation, a rental down payment, a consolidation, or income heading into retirement each point at a different structure and a different amount.
Draw on it when ready. Your loan officer coordinates the appraisal, the underwriting and the paperwork, and the equity stops being a number on a statement.

A kitchen part way through renovation: new white cabinet boxes along one wall, a bare plywood run beside them, a drop cloth and a level on a sawhorse

Start your guided quote

Common questions about using your equity

Straight answers to the questions we hear most before someone borrows against a home.

What's the difference between a HELOC and a cash-out refinance?

A HELOC is a revolving line of credit against your equity that sits on top of your existing mortgage, while a cash-out refinance replaces that mortgage with a larger one and hands you the difference.

How much equity can I actually access?

Most lenders cap combined borrowing at 80–85% of the home's value, so you typically keep 15–20% — a loan officer runs your specific numbers rather than quoting a flat percentage.

What credit score do I need?

HELOCs typically look for 680 or higher for the best terms, and lower scores may still qualify with a smaller available line and a higher rate.

Is my equity better used now or left alone?

That depends entirely on the purpose and on what the alternative costs, which is exactly the comparison a loan officer walks through with you rather than answering in the abstract.

Read the full FAQ →