Home equity
Use your home's equity thoughtfully.
Explore approved home-equity products offered by Edge Home Finance, LLC (NMLS #891464) and how they may fit your situation.
Home equity is the portion of your home's value that you own outright. Depending on your goals and the product you qualify for, home equity may be accessed through a cash-out refinance or a home equity loan or line of credit, subject to program guidelines and underwriting approval.
Related reading
Why Setting Up a HELOC Before You Need It Can Be a Smart Financial MoveA calm look at establishing a home equity line of credit while your finances are strong — not after an emergency arrives.
Built on what you own
Equity is the quiet result of staying put — use it with intention.
Common Questions
How Homeowners Typically Access Equity
How is home equity calculated?
Equity is your home's current value minus what you owe on it. Lenders generally limit how much of that value can be borrowed against, so the amount you can access is usually less than your total equity.
HELOC or cash-out refinance?
A home equity line of credit (HELOC) is a separate line you draw from as needed, usually with a variable rate, while your first mortgage stays in place. A cash-out refinance replaces your first mortgage with a new, larger loan. Which fits better depends on your current rate, how much you need, and how you plan to repay it.
What do people use equity for?
Common uses include home improvements, paying off higher-interest debt, education costs, or keeping a line of credit available for emergencies. Because the loan is secured by your home, it is worth thinking carefully about the purpose and the repayment plan.