How much can I borrow?

Lenders typically let you borrow up to 80–90% of your home's value minus what you owe on your first mortgage. For example, if your home is worth $400,000 and you owe $250,000, you might access $70,000–$110,000 in equity. Your income, credit, and debt matter too.

What's the difference between a HELOC, home equity loan, and cash-out refinance?

A HELOC is a revolving line of credit—you draw as needed and pay interest on the balance. A home equity loan gives you one lump sum upfront with a fixed rate and fixed payments. A cash-out refinance replaces your current mortgage with a new, larger loan and you receive the difference in cash. All three use your home as collateral.

How long does it take to get approved?

HELOCs are often fastest (2–4 weeks, many without a full appraisal). Home equity loans typically take 3–5 weeks. Cash-out refinances take longer (30–45 days) due to full mortgage underwriting. Having pay stubs, tax returns, and your mortgage statement ready can speed things up.

Will this affect my current mortgage rate?

With a HELOC or home equity loan, your first mortgage stays in place—your rate is untouched. A cash-out refinance replaces your existing mortgage with a new one, so you get a new rate and term.

HELOC, Home Equity Loan & Cash-Out Refinance Rates for Oct 17, 2026

Compare current rates directly from lenders to solve your funding needs through your home's equity. Not sure which option fits? You can explore the differences between these various options below, or connect with a lender who can explain them to you and find your best match immediately.

Connect with a lender

40s-50s couple meeting with mortgage lender in light, relaxed setting

Understanding Your Home Equity Options

Each option taps your home equity differently. Use the rate table above, then pick the structure that fits.

Feature	HELOC	Home Equity Loan	Cash-Out Refi
Payout	Revolving Line	Lump Sum	New Mortgage
Interest Rate	Variable	Fixed	Fixed
First Mortgage Rate	Untouched	Untouched	Replaced
Best For	Ongoing renovations	One-time projects	Debt overhaul
Time to Close	2–4 weeks (Fastest, often no full appraisal)	3–5 weeks (Requires more verification)	30–45 days (Full mortgage underwriting process)
Summary	Revolving line of credit—draw as needed, pay interest on the balance. Best for flexibility. Learn more	One lump sum upfront with a fixed rate and fixed monthly payments. Best for known amounts. Learn more	Replace your current mortgage with a new, larger loan and receive the difference in cash. Learn more

More Ways Homeowners Use Their Equity

Surgical Debt Elimination

If you're carrying high-interest credit card balances or personal loans, you're losing money to compounding interest every month. A HELOC or home equity loan can help you pay off those 20%+ debts with a single, lower-interest payment.

Access Cash When You Need It

Major life expenses—from education to emergency funds—can be funded with your home equity. A HELOC lets you draw as needed and pay interest only on what you use, while a home equity loan gives you one predictable lump sum upfront.

Retirement & Senior Living Expenses

Many seniors use a home equity loan or HELOC to access cash for medical expenses, aging-in-place modifications, or to supplement retirement income without giving up their home. Compare these options to see what fits your long-term plan.

Need a match?

Ready to take the next step?

Talk with a licensed broker about your goals—renovation, debt consolidation, or a large expense—and get matched to HELOC, home equity loan, or cash-out refinance.