Need cash and have equity? Compare a cash-out refinance with a home equity line, and see what selling would leave, with your own numbers.
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HELOC or Cash-Out Refinance? A Side-by-Side
Compare taking cash from your home's equity with a cash-out refinance or a home equity line, next to what selling would leave.
Want this as a personal plan?
Send this estimate to Rudy and he will follow up with a personalized version, no pressure.
Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Point Mortgage Corporation (NMLS #231073), at (619) 475-4095. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
This is an estimate for planning. It is not a quote, an appraisal, a loan offer, or tax or legal advice, and Rudy is a real estate agent, not a lender or tax professional.
Good to know
- Cash-out refinances replace your whole loan, so they work best when today's rate is close to or below your current rate.
- A HELOC keeps your first loan as it is and adds a second one, usually with a rate that can change.
- Lenders limit how much of your home's value you can borrow against, often around 80% to 90% in total. Ask what applies to you.
- Borrowing against your home puts the home at risk if you cannot repay, so borrow only what you need.