USHomeFlows

Mortgage refinance & home equity

Your home.
Your next move.

Understand your options before you borrow. Explore refinancing, a HELOC, or a cash-out refinance—and decide what deserves a closer look.

Explore your options

No application on this site. No obligation to borrow.

Three different approaches

Find the option worth exploring.

These are product categories, not personalized offers. A provider determines whether a product is available to you.

01 / REPLACE

Mortgage refinance

Replace your existing mortgage with a new loan. You might explore a different interest rate, loan term, or loan type.

What changes
Your existing mortgage is paid off and replaced.
What to weigh
Closing costs and the new repayment schedule. A lower monthly payment can come with a longer term and more total interest.
02 / DRAW AS NEEDED

HELOC

A home equity line of credit lets you borrow against available equity, up to an approved limit, during a draw period.

What changes
You add a credit line secured by your home, often alongside your existing mortgage.
What to weigh
Rates are often variable. Payments can rise, especially when the draw period ends. Account and closing fees may apply.
03 / ACCESS A LUMP SUM

Cash-out refinance

Replace your current mortgage with a larger loan and receive part of the difference as cash, after applicable costs.

What changes
You replace the mortgage on the whole balance, including the additional amount borrowed.
What to weigh
Your balance increases. The new rate applies to the full new loan, and a new repayment term may increase total interest.

Borrowing against your home involves risk. Approval is not guaranteed. Rates, terms, available equity, and loan amounts depend on factors such as credit, income, debts, property value, occupancy, location, and provider underwriting. Fees may include origination, appraisal, title, recording, closing, or HELOC account charges. Ask the provider for all applicable amounts. Missed payments can lead to foreclosure.

Look beyond the monthly payment

A clearer picture
of the cost.

A loan should fit more than today's budget. Consider your plans for the home and the cost over the time you expect to keep the loan.

  1. Compare the same details

    Review rate type, APR where applicable, fees, repayment period, and the amount borrowed. Compare equivalent scenarios from more than one provider.

  2. Account for upfront costs

    For a refinance, weigh closing costs against any expected payment reduction and how long you plan to keep the loan. Rolling costs into the balance means paying interest on them.

  3. Plan for payment changes

    Ask how variable rates, the end of a HELOC draw period, or any balloon payment could affect your budget. Property taxes and insurance remain your responsibility.

  4. Request written disclosures

    For a covered mortgage, review the lender's Loan Estimate when provided. For a HELOC, review the plan's disclosures and agreement; its costs and protections differ.

Before you continue

A few useful answers.

Is this a loan application?

No. This website explains product categories. We do not collect loan applications, check credit, or prequalify visitors. Any application happens on the provider's website.

Will refinancing save me money?

Not necessarily. The result depends on your current loan, the new terms, closing costs, and how long you keep the loan. A smaller monthly payment does not necessarily mean a lower total cost.

Can I keep my current mortgage with a HELOC?

A HELOC can sit alongside an existing mortgage, subject to the provider's requirements and lien position. You would need to manage both obligations. A cash-out refinance replaces the existing mortgage instead.

How should I compare providers?

Contact more than one lender and compare the same borrowing amount, repayment period, rate type, and fees. Review written disclosures before making a decision. General information on this website is not a personalized recommendation.