Home Equity Loans & Lines of Credit
Turn your equity into cash without touching your first mortgage. Take a fixed-rate lump sum with a home equity loan, or a line of credit you can draw from. Up to 90% of your home's value.
Benefits
Why use your home equity
Keep your first mortgage
Borrow against your equity without refinancing the low rate you already have.
Loan or line, your choice
A fixed lump sum, a fixed-rate line, or a variable line with interest-only payments.
Up to 90% of your value
Borrow up to 90% of your home's value, minus what you owe, from $5,000 to $1,000,000.
Fast funding option
Need it quickly? Our fast-funding line can approve in minutes and fund in days.
Home equity loan
What is a home equity loan (HELOAN)?
A home equity loan gives you one lump sum at closing at a fixed rate. You repay it with the same monthly payment for 10, 15, 20 or 30 years.
It's the simplest way to use your equity for a one-time cost: a renovation, paying off debt, or a big purchase. Your first mortgage stays exactly as it is.
- Fixed rate and fixed payment
- Full amount at closing
- 10, 15, 20 or 30-year terms
- Sits behind your current mortgage
Home equity line of credit
What is a home equity line of credit (HELOC)?
A HELOC is a line of credit backed by your home. You draw what you need, pay it down, and draw again during the draw period.
Choose a fixed-rate HELOC for a predictable payment, or a variable-rate HELOC priced at Prime plus a margin, with interest-only payments to start.
- Fixed or variable rate
- Draw again as you pay it down
- Interest-only option on variable lines
- 15, 20 or 30-year terms
Compare
HELOC vs. home equity loan
Both let you keep your first mortgage. The difference is how you get the money and how you pay it back.
| Home equity loan | HELOC | |
|---|---|---|
| How you get the money | One lump sum at closing | A line you draw from |
| Rate | Fixed | Fixed or variable |
| Payment | Same every month | Fixed, or interest-only to start on variable lines |
| Borrow again | No | Yes, during the draw period |
| Best for | One-time costs, paying off debt | Projects in phases, ongoing costs |
Compare
Home equity vs. cash-out refinance
A cash-out refinance replaces your mortgage with a bigger one. A home equity loan or HELOC leaves your mortgage alone and adds a second loan.
If your current rate is lower than today's rates, home equity usually costs less overall because you only borrow at today's rate on the new money.
| Home equity loan or HELOC | Cash-out refinance | |
|---|---|---|
| Your first mortgage | Stays the same | Replaced with a new, larger loan |
| Rate on what you already owe | Unchanged | Resets to today's rate |
| Closing costs | Lower, on the new amount only | Full closing costs on the whole loan |
| Speed | Days to a few weeks | Usually 30+ days |
| Best when | You like your current rate | Today's rates beat your current rate |
Your number
How much can you borrow?
Most homeowners can borrow up to 90% of their home's value, minus what they owe on it. Your credit score and how you use the home set the exact limit.
Example: a $500,000 home with a $260,000 mortgage. 90% of the value is $450,000. Subtract the mortgage and you could borrow up to $190,000.
Good fit?
Is home equity right for you?
Not sure if this is the right program? Get a free quote and a loan officer will help you compare your options.
Start my free quote- You've built equity and want cash without refinancing
- You like your current mortgage rate
- You want to pay off higher-rate debt with one payment
- You're planning a renovation or a big purchase
Mable home equity
Approved in 15 minutes. Funded in 5 days.
Check your available equity in 60 seconds with no credit pull, then apply online. Keep your mortgage and its rate.
- Approval in as little as 15 minutes
- Funds in as few as 5 days
- Fixed rate, nothing out of pocket
Fast-funding option. Approval and funding times vary and are not guaranteed. Subject to credit approval.
The process
How it works
Start your quote
Tell us about your current loan and your goal — a lower payment, a shorter term, or cash from your equity.
Review your options
Your loan officer lays out the refinance paths that fit, with the trade-offs explained in plain language.
Lock in your terms
Once you choose a direction, we handle the paperwork and keep the process moving.
Close and start saving
Sign your new loan and put the benefit — lower payment, faster payoff, or cash in hand — to work.
Explore home equity
- HELOC calculator See how much cash you can get in 60 seconds.
- HELOC vs. cash-out refinance Compare monthly payments at today's rates.
- Pay off debt Swap card rates for one fixed payment.
- Home improvement Fund the project, keep your mortgage.
- Rental property Borrow against a rental you own.
- Paid-off home A first-lien line on a home you own outright.
- Refinance a HELOC Swap a variable line for a fixed rate.
- Self-employed Qualify with your bank deposits.
Questions
Frequently asked questions
What's the difference between a home equity loan and a HELOC?
A home equity loan pays you one lump sum at a fixed rate. A HELOC is a line of credit you can draw from, at a fixed or variable rate. Both keep your first mortgage in place.
How much can I borrow?
Up to 90% of your home's value minus what you owe, from $5,000 to $1,000,000. Your credit score and occupancy set the exact limit.
Will I keep my current mortgage rate?
Yes. A home equity loan or HELOC is a separate second loan, so your first mortgage and its rate don't change.
Is a home equity loan better than a cash-out refinance?
If your current rate is lower than today's, usually yes: you only pay today's rate on the new money, and closing costs are lower.
What credit score do I need?
Generally 640 or higher. Higher scores unlock bigger loans and lower rates.
Can I use it on a rental or second home?
Yes, with 680+ credit, at a lower maximum: typically 70% to 80% of the home's value.
Ready to get started?
Get your personalized quote in a few minutes — no obligation, no impact to your credit to start. A loan officer will help you take it from there.