Keep Your Mortgage. Put Your Equity to Work.
Your home may be holding the funds you need—without requiring you to replace your existing first mortgage.
*On qualifying scenarios where permitted. Texas homestead transactions remain subject to applicable Texas constitutional and program limits.
What homeowners use equity for
Debt consolidation
Roll higher-rate balances into one equity-secured payment while your first mortgage stays where it is.
Renovations and pools
Fund a kitchen, an addition or a pool build with draws timed to your contractor's schedule.
Tuition or major expenses
Cover education, medical or family costs at equity-secured pricing instead of personal credit.
Investment opportunities
Free up a down payment for a rental or business opportunity without touching your low first-lien rate.
Emergency liquidity
Keep an approved line open and undrawn — you only pay interest on what you actually use.
Equity line versus cash-out refinance
| HELOC / equity option | Cash-out refinance | |
|---|---|---|
| What happens to your first mortgage | Stays exactly as it is | Replaced with a new, larger loan |
| Rate on your existing balance | Untouched | Repriced at today's market |
| Access to funds | Draw as needed, or take a fixed-rate draw | One lump sum at closing |
| Interest charged on | Only what you draw | The entire new loan balance |
| Valuation | AVM-based valuation may be available | Typically a full appraisal |
| Lien position | First- or second-lien options may be available | First lien only |
| Best when | Your current rate is below today's market | Your current rate is at or above today's market |
Want the deeper comparison? Read HELOC vs. cash-out refinance in Texas, the HELOC program page, or the Texas home equity guide.
Request my equity analysis
A few details are all Mike needs to show what options may be available on your property.