Need cash? Take $750K.
Borrow up to $750,000 as one lump sum, at a fixed rate.
- ✓ One lump sum, all at once
- ✓ Fixed rate, fixed payment. No surprises
- ✓ Keep your existing mortgage4
Get pre-approved in as little as 180 seconds
Check your rateWon't affect your credit score. Nearly 8 out of 10 applicants get approved.1
★★★★ 4.2 Great · 2,009 reviews on Trustpilot
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Home equity loan vs. HELOC
Two ways to tap your equity. A home equity loan gives certainty: a fixed rate and a fixed payment on a one-time lump sum. A home equity line of credit (HELOC) gives flexibility.
| Home Equity Loan | HELOC | |
|---|---|---|
| Best for | One-time large expenses or projects needing a fixed lump sum | Flexible, ongoing borrowing needs |
| Interest rate | Fixed | Adjustable |
| How you receive funds | One upfront lump sum | Revolving line you draw from for 3 or 5 years |
| Interest-only period | No | Yes |
| Payment structure | 15, 20, 25, or 30-year fixed principal & interest | 5 or 10-yr interest-only, then a 15, 20, 25, or 30-yr repayment period |
| Borrow amount | $15,000 – $750,000 | $15,000 – $750,000 |
| Min credit score | 640 | 620 |
Source: Better Mortgage product guidelines (as of June 2026). Eligibility, terms, and amounts subject to change; not a quote or offer.5
Why customers love Better Mortgage
4.2 ★★★★ Great · 2,009 reviews on TrustpilotKept informed all the way
Excellent customer service from everyone during the initial review, application process, appraisal, and loan closing. It was a smooth transition and being able to have everyone keeping you informed all the way made this process pleasant. Thank you all for going the extra mile.
Shenetta F., Better Mortgage customer · Trustpilot, May 2026
The ease is unbeatable
When I started looking at HELOC options I went to my local branch and was quickly overwhelmed with the process. I decided to try Better since I read all the good reviews and am happy I did. Better needs the exact same information that my other bank did, but the ease of providing information is unbeatable. I was able to apply and provide all required documentation via the same site. The dashboard was very simple to use.
Damaris A., Better Mortgage customer · Trustpilot, May 2026
Easy from start to finish
The experience really was easy from start to finish. I never was confused about what the next steps were or what to expect. I felt great throughout the whole process. I would highly recommend this to anyone looking to take out a heloc.
Jonathan, Better Mortgage customer · Trustpilot, May 2026
All-digital process
Better is great! Helped with a Heloc; all digital process except signing closing papers. Website helped with knowing where you are in process at all times! My contact team was great!
Michael W., Better Mortgage customer · Trustpilot, Apr 2026
No surprises
After my initial inquiry. Got a call from Nick , he asked a few questions & connected me with Anthony who handles California. Anthony gave me all my options and broke down the numbers. Once I decided what was best for me, the HELOC process started. Inga McNair walked me through the Task process up to the Notary & closing process. I was very happy that there were NO SURPRISES!!!!!! Thank you!
Arturo G., Better Mortgage customer · Trustpilot, May 2026
HELOC closed in 17 days
I was particularly impressed with the creativity Jamil used to demonstrate income that I had that the underwriters could accept. Other lenders did not take the time to do the proper evaluation of my finances and would not work with me to evaluate my finances and ability to pay. Better was able to process my application and fulfill my HELOC needs in just 17 days from start to finish.
Neil S., Better Mortgage customer · Trustpilot, Sep 2025
Remodeled with a HELOC
We needed to take out a Heloc loan to remodel our home and we were nervous about the process. Better Mortgage helped us through the process and were quick to fund. Our loan coordinator Chris Kmec was amazing and reached out to us when we had any questions and to update us on the status of the loan.
Shatee S., Better Mortgage customer · Trustpilot, Jul 2024
Funded in 10 days
Easy process. Home equity line of credit funded in 10 days that included 2 weekends.
Glenn F., Better Mortgage customer · Trustpilot, Apr 2026
Closed in under 30 days
Dyllon and Sanam were a great team to help close our escrow in fewer than 30 days. Dyllon coordinated all the paperwork that underwriting needed to approve our loan. He intervened when overlapping questions from underwriting were redundant. Sanam coordinated closing, including making sure our insurance was recorded.
Cynthia W., Better Mortgage customer · Trustpilot, Feb 2025
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Frequently asked questions
Will my payment change if rates go up?
No. A home equity loan has a fixed rate and a fixed monthly payment for the full term. It never changes, even if rates rise. That predictability is the main reason to choose it over a variable-rate HELOC, and you take one defined lump sum rather than a revolving line you might overdraw.
Does a home equity loan affect my existing mortgage rate?
Not at all. A home equity loan is a second, separate lien on your property. Your first mortgage (its rate, term, and monthly payment) is completely untouched. That's why homeowners with low first-mortgage rates take a home equity loan instead of a cash-out refinance.
How much can I borrow with a home equity loan?
Up to 90% of your home's value, minus what you still owe on your mortgage, subject to credit and eligibility.
Will checking my rate affect my credit score?
No. Better uses a soft credit pull to show you your rate options. There's no impact to your score until you formally submit an application and consent to a hard pull.
Need cash? Take $750K.
Check your rate★★★★ 4.2 Great · 2,009 reviews on Trustpilot · Nasdaq: BETR · NMLS #330511 · Equal Housing Lender