Pre-Qualify for Home Equity Financing
Start with a fast online form to see how much equity you may be able to access. We evaluate your home value, mortgage balance, income, and credit.
Unlock Home Equity & HELOCs with Rize Mortgage
Take cash out to fund repairs, cover college expenses, or handle emergencies. With HELOans or HELOCs, you can get your money in a few days.
Pre-Qualify for Home Equity Financing
Discover how much equity you can access with a soft credit check and no obligation.
Pre-Qualify
See if a Home Equity Loan or HELOC Fits You
Answer a few quick questions, and we’ll recommend which option works best for you.
Start Pre-Approval
Schedule a Call
Ready to move forward with a Home Equity or HELOC Loan? Begin your application online in minutes.
Home Equity Loan Options
Deciding between a home equity loan and a HELOC (Home Equity Line of Credit) depends on how you plan to use the money. Both types of loans let you tap into the value of your home, but work in different ways. Home equity loans give you a lump sum upfront with fixed payments, while HELOCs let you borrow as needed over time, similar to a credit card.
Home Equity Loan - Access the Value in Your Home
A home equity loan is a lump-sum loan secured by your home. It comes with a fixed interest rate and predictable monthly payments, making it ideal if you know exactly how much you need upfront (like for a major remodel or debt payoff).
HELOC (Home Equity Line of Credit) - Access Cash When You Need It
A HELOC works more like a credit card tied to your home’s equity. You borrow only when you need, how much you need it, and repay as you go. HELOCs usually have variable rates, giving you flexibility to handle ongoing expenses like tuition, projects, or unexpected costs.
Home Equity Loan vs HELOC
While both loan options let you access the equity you’ve built over the years, both serve different needs. Choosing the right option depends on your goals, financial situation, and how you plan to use your equity. Understanding the differences helps you avoid unexpected costs and ensures your financing aligns with your long-term plans.
Home Equity Loan
Provides a fixed lump sum, predictable interest rates, and set monthly payments. Best for one-time expenses like remodeling or debt consolidation.
HELOC
Works like a credit card for your home’s equity, offering flexible access and variable rates. Ideal for ongoing expenses, such as home improvement projects, tuition, or emergencies.
Our Simple Home Equity Financing Process
Accessing your home’s equity doesn’t have to be complicated. Rize makes it straightforward with a clear and simple step-by-step process.
1
Apply for a Home Equity Loan or HELOC
Submit the required documentation, like income verification, credit history, and assets. Rize guides you to exactly what’s needed to make the process smooth.
2
Review Your Options
We help you compare home equity loans and HELOCs, matching your financial goals, repayment preferences, and timeline to the right program.
3
Lock Your Rate (for Home Equity Loans)
For lump-sum loans, secure a fixed interest rate so your monthly payments remain predictable over time.
4
Approval & Closing
Once approved, we finalize underwriting, handle all paperwork, and coordinate the closing process efficiently.
5
Access Your Funds
Receive a lump-sum payment with a home equity loan or draw from your HELOC as needed to manage ongoing expenses or larger projects.
6
Tips for a Smooth Home Equity or HELOC Experience
Using home equity or a HELOC the right way can boost your financial flexibility. Smart planning helps you tap into your home’s value safely, strengthening your finances without taking on unnecessary risk.
Keep your credit healthy
A strong credit score can improve rates and loan approval.
Understand your repayment strategy
Home equity loans come with fixed payments, while HELOCs give you flexible options.
Document your income and assets
Organized records speed up approval and reduce stress.
Borrow only what you need
Minimize unnecessary interest and maximize financial flexibility.
Work with Rize Mortgage
We can help you navigate home equity and HELOCs, avoid common mistakes, and optimize your financing.
FAQ (Frequently Asked Questions)
How Do Home Equity Loans Work?
A home equity loan lets you borrow against the equity you’ve built in your home, providing a lump sum with fixed monthly payments. The loan amount is typically based on your home’s appraised value minus any outstanding mortgage balance. Home equity loans usually have fixed interest rates and set repayment terms, making them ideal for large, one-time expenses like home renovations or debt consolidation.
Can Home Equity Loans be Refinanced?
Yes, home equity loans can be refinanced, often by taking out a new home equity loan or converting it into a Home Equity Line of Credit (HELOC). Refinancing may help you secure a lower interest rate, reduce monthly payments, or consolidate debt. Lenders will reassess your home’s value, credit, and income before approving a refinance.
How to Get Home Equity Loans?
To get a home equity loan, you need to apply with a lender, provide financial documents, and meet credit and equity requirements. Lenders typically require at least 15–20% equity in your home, a good credit score, and proof of steady income. The application includes an appraisal to determine your home’s current market value.
Are Home Equity Loans and HELOC the Same?
No, a home equity loan is a lump-sum loan with fixed payments, while a HELOC is a revolving line of credit with variable payments. Home equity loans are ideal for one-time expenses, whereas HELOCs allow you to borrow multiple times up to a credit limit during a draw period. HELOC interest rates are usually variable, and payments may fluctuate.
How Long Are Home Equity Mortgages Financed?
Home equity loans are typically financed for 5–30 years, depending on the lender and loan type. Shorter terms result in higher monthly payments, but less interest paid over the time, while longer terms offer lower monthly payments with more total interest. HELOCs often have a draw period of 5–10 years, followed by a repayment period of 10–20 years.
Ready to Access Your Home’s Equity?
Whether you want a predictable home equity loan or a flexible HELOC, Rize makes the process simple, transparent, and tailored to your goals.
