Home Equity
Put your home equity
in perspective.
Home equity is the difference between your home’s value and what you owe against it. It is not the same as the amount you can borrow.
How it works
1
Estimate your equity
Today's value minus what you owe. Most lenders let you borrow up to a set share of the value.
2
Compare HELOC and cash-out
Keep your first mortgage and add a line of credit, or replace it with one new, larger loan.
3
Plan the payoff
Know the payment, how the rate can change, and when the balance will be paid.