Borrow against your home and keep your mortgage.
A HELOC or home equity loan sits on top of your current mortgage. Tell us where the home is to get started.
- Free, With No Obligation
- No Credit Check to Start
- One Licensed Lender
- Straight Answers
Who It's For
Homeowners with equity who want to borrow against it while keeping their current first mortgage as it is.
What to Know
A HELOC is a line of credit
A home equity line of credit lets you borrow again and again, up to a limit, against your home's equity.
Source: CFPB, CFPB: What is a home equity line of credit (HELOC)?Draw First, Then Repay
A HELOC has a draw period, such as 10 years, then a repayment period, often 10 or 20 years. Monthly payments are often much higher once repayment starts.
Source: CFPB, CFPB: What is a home equity line of credit (HELOC)?HELOC payments can change
Most HELOCs have a variable interest rate, so your payment may change from month to month.
Source: CFPB, CFPB: What is a home equity line of credit (HELOC)?A home equity loan is a lump sum
You get the money all at once, and the interest rate is usually fixed, though some are adjustable.
Source: CFPB, CFPB: What is a home equity loan?A Second Mortgage, Backed by Your Home
If you already have a mortgage, either one is a second mortgage you pay on top of your first. Your home is the collateral, so you could lose it if you can't repay.
Source: CFPB, CFPB: What is the difference between a home equity loan and a HELOC?
How It Works
Answer a Few Questions
Your goal, your ZIP code, your home and your timing. About two minutes, with no contact details until the last step.
Get Matched With One Lender
We find one licensed lender in your state that takes this kind of loan, and show you its name first.
Hear From That Lender
If you choose to send your request, that lender reaches out. You decide what happens next.
Four Things You Can Check
The Lender's License
You see the lender's name and NMLS ID before you share your number. Anyone can look a lender up on NMLS Consumer Access.
Look Up a Lender's LicenseHow We Get Paid
Lenders pay us a flat fee when you ask to be contacted. You never pay us. The fee is the same whether or not you take out a loan.
Read How We Get PaidWho Gets Your Request
One lender, named on the form before you send it. Every lender who may get a request is listed with its NMLS ID.
See Our Lender PartnersOur Sources
Every guide ends with a list of its sources, such as HUD, the CFPB, Fannie Mae and Freddie Mac.
Browse the Guides
Common Questions
Can a lender freeze my HELOC?
Only for reasons federal rules allow, such as a big drop in your home's value, or the lender reasonably believing your finances have changed so much that you can't repay.
What fees should I expect?
Possible fees include an appraisal, an application fee that might not be refunded if you're turned down, and closing costs such as attorney and title fees. Home equity loans can have upfront costs too, so compare more than the monthly payment.
What happens if I sell my home?
You generally have to pay off a HELOC or home equity loan in full right away. If you might sell soon, weigh whether the setup costs are worth it.
Learn More
Sources
- CFPB: What is a home equity line of credit (HELOC)?
- CFPB: What is a home equity loan?
- CFPB: What is the difference between a home equity loan and a HELOC?
- Regulation Z, 12 CFR 1026.40: requirements for home equity plans
- CFPB: What you should know about home equity lines of credit (booklet)
- CFPB: Using home equity to meet financial needs (guide for older Americans)