HELOC, Home Equity Loan & Cash-Out Refinance Rates for Mar 21, 2026
Compare current rates directly from lenders to solve your funding needs through your home's equity. Not sure which option fits? You can explore the differences between these various options below, or connect with a broker who can explain them to you and find your best match immediately.
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Understanding Your Home Equity Options
Each option taps your home equity differently. Compare your options below and apply when you're ready.
HELOC
Home equity line of credit
Revolving line of credit—draw as needed, pay interest on the balance. Usually variable rate; your first mortgage stays in place. Best when you want flexibility or aren’t sure of the amount or timing.
Learn moreHome equity loan
Lump sum, fixed rate
One lump sum upfront with a fixed rate and fixed monthly payments. Your first mortgage stays in place. Best when you know the amount and want one predictable payment.
Learn moreCash-out refinance
New first mortgage plus cash
Replace your current mortgage with a new, larger loan and receive the difference in cash. New rate and term. Best when rates are attractive and you want a large lump sum or to reset your term.
Learn more| Feature | HELOC | Home Equity Loan | Cash-Out Refi |
|---|---|---|---|
| Payout | Revolving Line | Lump Sum | New Mortgage |
| Interest Rate | Variable | Fixed | Fixed |
| First Mortgage Rate | Untouched | Untouched | Replaced |
| Best For | Ongoing renovations | One-time projects | Debt overhaul |
| Time to Close | 2–4 weeks (Fastest, often no full appraisal) | 3–5 weeks (Requires more verification) | 30–45 days (Full mortgage underwriting process) |
How homeowners use their equity
Increase Your Home's Value Ceiling
Use your equity to fund renovations that do more than just modernize. Strategic upgrades can build long-term wealth. A HELOC or home equity loan adds a second lien; a cash-out refinance replaces your mortgage with a new one. Compare the options above to find the right fit for your situation.
Surgical Debt Elimination
If you're carrying high-interest credit card balances or personal loans, you're losing money to compounding interest every month. A HELOC, home equity loan, or cash-out refinance can help you pay off those 20%+ debts with a single, lower-interest payment. It's a targeted move to improve your monthly cash flow.
Access Cash When You Need It
Major life expenses—from education to emergency funds—can be funded with your home equity. A HELOC lets you draw as needed and pay interest only on what you use. A home equity loan gives you one lump sum upfront. A cash-out refinance replaces your mortgage and gives you cash. Each has different timing and terms—choose what fits your situation.
Ready to take the next step?
Talk with a licensed broker about your goals—renovation, debt consolidation, or a large expense—and get matched to HELOC, home equity loan, or cash-out refinance.
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