FAQ
Questions, answered
The questions that come up most, answered without a sales pitch. Yours isn't here? Ask it directly.
Questions
Common questions
Can I use equity without replacing my current mortgage?
A HELOC or home equity loan may let you keep your first mortgage. A cash-out refinance replaces it. The right comparison includes both loans' payments, rates, fees, and your plans for the home.
What is the difference between a HELOC and a home equity loan?
A HELOC generally provides a revolving credit line; a home equity loan generally provides one lump sum. Rates, repayment terms, fees, and available products vary. We'll compare the options against your goal.
What do you need to start?
Start with your goal, approximate home value, current mortgage balance, and the amount you want to access. Income, credit, property details, and documents help determine what options may fit.
Does a lower monthly payment always mean a better loan?
No. A longer repayment period can lower the monthly payment while increasing total interest. Compare closing costs, the repayment term, and the total cost alongside the payment.
Is an estimate an approval?
No. Estimates are a starting point. Eligibility, rates, loan amounts, and terms depend on verification, lender requirements, and the property.
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