If you own a home, chances are you're sitting on more equity than you realize — and there are smart ways to put it to work without selling or refinancing your entire mortgage.
Two Ways to Access Your Equity
HELOC
A Home Equity Line of Credit gives you flexible, revolving access to your equity — draw what you need, when you need it, and only pay interest on what you use.
HELOAN
A Home Equity Loan is a fixed-rate second mortgage that delivers a lump sum upfront — ideal when you know exactly what you need and want a predictable monthly payment locked in for the life of the loan.
Both options let your home do some of the heavy lifting.
Common Uses
- Home improvements or renovations
- Debt consolidation — note: this converts unsecured debt (like credit cards) into debt secured by your home. If payments aren't made, your home is at risk of foreclosure.
- Large planned expenses
- Bridging a financial gap without touching your first mortgage