Learn → Home Equity
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
What is a HELOC?
A HELOC, or home equity line of credit, is a second mortgage that works like a credit card secured by your home: a revolving line you draw from as you need it, usually at a variable rate.
Read more
What is a home equity loan?
A home equity loan is a second mortgage that lets you borrow a lump sum against your equity at a fixed rate over a set term, while your first mortgage stays exactly as it is.
Read more
How do I calculate the equity in my home?
Your home equity is your home's current market value minus everything you still owe against it. Here is the formula, a worked example, and why usable equity is smaller than the equity you own.
Read moreWant to tap your equity?
Get a quote and see how much you may be able to borrow against your home.
Prefer to talk? Call (866) 617-7381