: This provides a lump-sum payment with a fixed interest rate . It acts as a second mortgage, meaning you keep your original mortgage intact. It is ideal for one-time large expenses like a down payment.
: You replace your existing mortgage with a new, larger one and take the difference in cash . This is best if current market interest rates are lower than your original mortgage rate. Eligibility and Requirements how to buy a house with equity
: A revolving line of credit similar to a credit card. It typically has a variable interest rate and a "draw period" (usually 10 years) where you only pay interest on what you use. : This provides a lump-sum payment with a