Equity
Home equity loan. A lump sum, your first mortgage untouched
Borrow a lump sum against your equity in a second loan. We shop it with 130+ lenders.
What a home equity loan is
A home equity loan, also called a closed-end second or HELOAN, gives you one lump sum up front.
It sits behind your first mortgage, so your first loan and its rate stay exactly as they are.
Who it fits
- Homeowners who want one lump sum
- Owners planning a remodel
- Homeowners consolidating other debt
- Anyone who wants to keep a low first-mortgage rate
The steps
How it works with us
- Know your equityStart with a free Home Value Report, or tell us what you think the home is worth.
- One soft pullWe check your credit once, without affecting your score, and shop the file with 130+ lenders.
- Lump sum or lineWe compare a home equity loan with a HELOC and a cash-out refinance.
- CloseWe keep the appraisal, lender and title moving, and get you to closing.
Get ready
What to have on hand
You don't need all of it to start. The application tells you what's missing.
- Photo ID for everyone on the loan
- Pay stubs covering the last 30 days
- W-2s for the last two years
- Your most recent mortgage statement
- Homeowners insurance declarations page
Questions
Good to know
How is it different from a HELOC?
A home equity loan is one lump sum up front. A HELOC is a line you draw from as you need it.
Does it change my first mortgage?
No. It's a separate second loan, so your first mortgage stays as it is.
Can self-employed borrowers qualify?
Yes. Some lenders offer bank statement options.
Is it better than a cash-out refinance?
If your current rate is low, a second loan often comes out ahead. We compare both.