Use Your Home Equity
There are four main ways to turn home equity into cash: a HELOC, a home equity loan (HELOAN), a Fast-Track Digital HELOC, and a cash-out refinance. The right one depends on your current rate, how you'll use the money, and whether you want a fixed or flexible payment.
Rates change daily. Talk to a real lender, Mon-Fri, 9 AM-6 PM PT.
Compare the options
| HELOC | Home equity loan (HELOAN) | Fast-Track Digital HELOC | Cash-out refinance | |
|---|---|---|---|---|
| What you get | A line of credit you draw on | A lump sum | A line of credit with a digital application | A new, larger first mortgage, with the difference paid to you in cash |
| Rate | Usually variable | Usually fixed | Variable | Fixed or adjustable |
| Your first mortgage | Stays as is | Stays as is | Subject to guidelines | Replaced |
| Amount | Up to $500,000 | Subject to guidelines | Subject to guidelines | Subject to guidelines |
| Term | Subject to guidelines | Subject to guidelines | Subject to guidelines | Typically 15 to 30 years |
| Best when | Your first-mortgage rate is low and your needs are ongoing or uncertain | You need a set amount with a fixed payment | You want a fast, paperless HELOC | Today's rates beat your current rate, or you need a large amount |
Which fits you?
My first-mortgage rate is low and I want flexibility
I want one fixed payment
Home equity loan (HELOAN).
I want a fast digital process
My current rate is high or I need a big amount
Estimate a cash-out payment
Enter your numbers to see an estimate.
Frequently asked questions
HELOC or home equity loan?
A HELOC is flexible: you draw as needed, usually at a variable rate. A home equity loan is a lump sum with a fixed rate and payment.
How much equity do I need?
A HELOC can go up to $500,000. A home equity loan is subject to guidelines. Both depend on your home's value and what you owe.
Will it change my first mortgage rate?
A HELOC or home equity loan doesn't change it. A cash-out refinance replaces your first mortgage at a new rate.
Can I use it for a rental?
Some programs allow investment properties. Eligible property types are subject to guidelines.
Rates change daily. Talk to a real lender, Mon-Fri, 9 AM-6 PM PT.
Reviewed by Roland Suncire, Founder and President, NMLS 1196184. Last updated October 2026. Reviews