Home equity loan

Home equity borrowing jumped more than 20% in the second quarter of 2026.

Homeowners opened nearly $80 billion in new HELOCs and home equity loans in just three months.

And when you look at what's happened to homeowners over the last few years, it's pretty easy to see why.

Mortgage holders collectively have about $18 trillion in home equity.

A HELOC or home equity loan works differently.

It leaves the first mortgage in place and charges today's rates only on the new money you're borrowing.

Plus, closing costs on home equity loans and lines are a fraction of what you pay for a full refi.

That helps explain why second mortgages are becoming more attractive while mortgage rates remain elevated.

That's not how it works.

So whether it's a HELOC, a HELOAN, or it's a cash out refinance, These loans are different and they're different for each individual.

And that's why I like to talk to you to understand where your motivation is.

Because if you're doing an equity loan, you have a specific need and you need that cash.