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Home Equity
The equity you have built is one of your most flexible financial tools. This hub covers home equity loans and HELOCs — how they work, how they differ, and how to tap your equity for renovations, debt consolidation, or big expenses without putting your home at unnecessary risk.
All Home Equity articles & guides
Do you need an appraisal to get a HELOC?
Most HELOCs require some form of valuation, but it is not always a full in-person appraisal — depending on the lender, an automated valuation or a drive-by may be used instead.
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How soon after buying a house can I get a HELOC?
You can often apply for a HELOC within a few months of buying, and some lenders will consider one almost immediately, as long as you have enough equity to work with.
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Can I use home equity to buy a second home?
Yes, you can use the equity in your current home to help buy a second home, most often by taking a home equity loan, a HELOC, or a cash-out refinance and using the proceeds toward the purchase.
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Can I get a HELOC on a rental or investment property?
Yes, you can get a HELOC on a rental or investment property, but fewer lenders offer it and the terms are stricter than on your primary home.
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Can I sell my house if I still have a HELOC on it?
Yes, you can sell a house that has a HELOC on it, and the HELOC simply gets paid off from the sale proceeds at closing, the same way your first mortgage does.
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Can I refinance a HELOC into a fixed rate?
Yes, you can refinance a HELOC, and one common reason is to move off a variable rate into a fixed one before rates rise or before your draw period ends.
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