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

Get my cash

Won't affect your credit score. Nearly 8 out of 10 applicants get approved.¹

★★★★ 4.2 Great · 2,001 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, 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 · 2,001 reviews on Trustpilot

Kept 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

5 min read What's a home equity loan? A practical guide Read more → 5 min read HELOC vs. home equity loan: which is right for you? Read more → 5 min read Home equity loan closing costs: what you'll pay and how to lower them Read more → 4 min read How long does it take to get a home equity loan? Read more →

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.