Typically, homeowners seek home equity loans or lines of credit (HELOC) to access their equity, but a cash-out refinance can accomplish a similar result. A HELOC is a line of credit guaranteed by ...

Fortunately, there are still viable ways in which homeowners can get equity out of their home without having to refinance.

This ensures you have just one monthly payment, rather than the two a home equity loan or HELOC would come with. You may need more than 20% equity in your home for a cash-out refinance ...

Generally speaking, your HELOC limit won't grow automatically as your home equity increases. Lenders set your initial HELOC ...

Complex refinancing process. The application and approval process for a cash-out refinance is typically longer and more involved than for a home equity loan or HELOC. A home equity loan (HELoan ...

If you’ve taken out a HELOC and realize you can get better rates or want to lower your monthly payments, you should refinance ...

If you already have an existing HELOC, you have two main choices if you want to increase your lending limit: Modify your loan or refinance into a new HELOC with a higher limit. Let’s look at ...

A fixed rate can protect you when general interest rates are rising. However, with some fixed-rate HELOCs, you can end up ...

Instead of getting a second mortgage like a home equity loan or HELOC, you could replace your first mortgage by refinancing. A cash-out refinance lets you tap into your home's equity while ...

The draw period on HELOCs is typically 10 years. At the end of your draw period, your lender may allow you to refinance your HELOC into a new credit line or another type of loan. If you don't ...