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Home Equity

Your home is probably your biggest asset, and the part you own outright is your equity. There are several ways to turn some of it into cash, and they differ in how you get paid, what you owe each month, and what's at stake. These guides explain each one in plain English, so you can match the option to your situation.

HELOC vs. Home Equity Loan: How to ChooseBoth borrow against your home. Here is how the payments, risks and costs differ, with real numbers.Read the guide →Home Equity Line of Credit (HELOC): How It WorksA revolving line of credit secured by your home that you draw on as you need it.Read the guide →Home Equity Loan: How It WorksA lump sum with a fixed rate and fixed monthly payments, secured by your home.Read the guide →Cash-Out Refinance: How It WorksReplace your mortgage with a larger one and take the difference in cash.Read the guide →Home Equity Investment (HEI): How It WorksGet cash today in exchange for a share of your home's future value. No monthly payments.Read the guide →Reverse Mortgage: How It WorksFor homeowners 62 and older: turn equity into cash with no required monthly mortgage payment.Read the guide →

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These guides are for general information only and aren't financial, legal or tax advice. We may be compensated by companies featured on this site. See our advertiser disclosure.