Won’t affect your credit score
Want to get cash from your home?
Let us figure out the best way for Better to help you get the cash you need fast!
01.
Check if you qualify online in minutes without any impact to your credit score
02.
You’ll see your maximum cash, rates, and expected monthly payments
03.
Select a loan and get cash in as fast as 7 days¹
Won’t affect your credit score
Get a decision
in 24 hrs
2025 Best HELOC
lender for low equity
2026 Best for Home
Equity Loans
2026 Best for speedy
approvals and low fees
2025 Best for
Low Rates
What cash-out option is better for me?
A HELOC and a home equity loan are both great options to access your home equity as cash, but what's the difference? Here is the high-level break down, but once you answer a few quick questions, we’ll help you choose the right option, with side-by-side comparisons and advice from a dedicated loan consultant.
HELOC
(Home Equity Line of Credit)
HELOAN
(Home Equity Loan)
Best for
Flexible ongoing borrowing needs
One-time large expenses or projects requiring a fixed lump sum
Interest only period
Interest rate
Adjustable
Fixed
How you receive and spend the funds
Revolving line of credit you can pay down and withdraw from for 3 or 10 years
One upfront lump sum
Payment structure
5 or 10-year interest-only payments, followed by 10, 15, or 20 year repayment period (principal and interest payments)
15, 20, or 30-year fixed principal and interest payments¹
Get between
$50,000 - $750,000
$50,000 - $500,000
Borrow from
Primary residence
Second home
Investment property
Primary residence
Second home
Investment property
Minimum credit score
620
680
Keep your mortgage rate
How much cash can I borrow with a HELOC or home equity loan?
Homeowners can borrow up to 90% of their home’s value. In this scenario, a homeowner could qualify for a home equity line of credit or home equity loan up to $200,000.²
Won’t affect your credit score
Easier
Access up to 90% of your property's value, making it easier than ever to tap into the value of your property to build an ADU.
Faster
Close in as little as 3 days, so you can go from idea to built space faster than ever.3
Better
Better and HUTS have partnered to create the best way to finance the construction of your new favorite asset: your ADU.
Why customers love Better Mortgage
Thank you for making the whole process so painless! With the rising credit card rates, it makes perfect sense to get HELOC with low interest rate.
G
Glyn
Better Mortgage HELOC customer
I was able to close on my home equity line of credit in just three days!! Better Mortgage offered me the best rate and lowest cost when I refinanced my mortgage back in 2020, and for the second time, they offered me the best rate.
M
Matt
Better Mortgage HELOC customer
Why homeowners tap their home equity
HELOCs and home equity loans have lower interest rates than most credit cards and personal loans because they’re secured by your home, making them a popular option for large expenses and paying off higher-interest debt.³
Won’t affect your credit score
While home values are up.
Put your equity to work.
While home values are up. Put your equity to work.
In 2022, US homeowners saw their home equity increase $60,200 per borrower, on average.³ Now they can quickly tap into that equity to tackle renovations, pay off high-interest debt,⁴ or keep as an emergency fund.
Better savings
Pay interest only on what you withdraw
With a HELOC, you’ll pay interest on the amount you withdraw, not the entire loan amount. Plus, Better Mortgage cuts out the unnecessary fees so we can pass along those savings to our customers.
No unnecessary fees
Pay interest only on what you withdraw
With a HELOC, you’ll pay interest on the amount you withdraw, not the entire loan amount. Plus, Better Mortgage charges zero unnecessary fees.
With the Better Home Card
Furniture
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Appliances
Renovations
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What makes us Better
Homeownership, all under one roof
We’re making every step of the homeownership process faster, easier, and more affordable.
Better Real Estate
Expert agents to help you list your current home or find a new one.
Better Settlement Services
We’re making title insurance faster, easier, and just plain Better.
Better Cover
We’ll shop 20+ insurance carriers to find you the best policy on home, auto or life insurance.
FAQs
What is a HELOC?
What is a home equity loan?
Should I get a cash-out refinance, instead?
What can I use my home equity for?
How much home equity can I borrow?
Are hybrid appraisals covered under our appraisal contingency?
What if the Listing Agent has questions about the appraisal alternatives?
¹ Home Equity Loan Payment Example: For example, on a $100,000 30-year fixed rate home equity loan, with an interest rate of 8.625% (8.705 APR) for the cost of 0.7 point(s) ($730.10) paid at closing, you would make monthly payments of $777. Monthly payment does not include taxes and insurance premiums. The actual monthly payment will be greater. Monthly payment assumes a loan-to-value (LTV) of 20%.
² Actual maximum loan amount will vary based on home value, lien position, and financial profile. This is not a commitment to lend.
³ Better Mortgage's HELOC and home equity loans require that you pledge your home as collateral, and you could lose your home if you fail to repay your loan.
Better Mortgage’s home equity loan product is available in all states other than MN.
Better Mortgage's HELOC product is available in all states other than TX. Please note that you are required to draw at least $50,000 or 75% of your credit limit, whichever is greater, at the time of funding (ex. if your credit limit is $200,000, you must draw $150,000 or more at funding). If you would like to draw less at funding, you may lower your credit limit.
11 Based on an internal analysis of Better Mortgage customers who originated a home equity loan or HELOC funded between January 1, 2025 and December 31, 2025, and for whom FICO score data was available both at origination and after funding. The 36-point figure reflects the average change in credit score across this group. Individual results vary and are not guaranteed. Credit score outcomes depend on many factors, including overall credit profile, payment history, credit utilization, and how loan proceeds are used. Opening a new credit account may temporarily lower a credit score.
12 Betsy evaluates loan scenarios using currently available data across participating investors, product types, loan terms, and rate assumptions. The stated number of scenarios reflects a mathematical combination of these inputs (including multiple investors, product categories, loan terms, and rate variations) and does not represent a guarantee that all scenarios are available to every borrower or that any specific rate or loan will be offered. Actual loan options, rates, and terms depend on individual borrower qualifications, credit profile, property characteristics, loan amount, market conditions, and lender requirements at the time of application.
13 Based on Better Mortgage internal analysis of 2025 HMDA-reported mortgage application data. The approval rate reflects applications received between January 1, 2025 and December 31, 2025 that were considered "completed," meaning applications not withdrawn by the applicant or closed for incompleteness. Approval includes applications that were approved but not accepted, loans that ultimately originated, and loans that were approved and later purchased. Results are based on aggregate data and do not guarantee approval for any individual applicant. Approval outcomes depend on a variety of factors, including credit profile, income, assets, property details, and underwriting requirements. Individual results may vary.
14 The stated average monthly savings of $1,279 is based on an internal analysis of Better Mortgage customers who funded a HELOC or home equity loan through Better between January 1, 2025 and December 31, 2025 and used the proceeds to consolidate existing high-interest debt. Savings represent the average difference between customers' prior monthly payments on the consolidated debt and their initial monthly payment on the HELOC or home equity loan at funding. Individual savings will vary based on factors including loan amount, interest rates, credit profile, repayment terms, and the type and amount of debt consolidated. Not all customers will achieve similar savings.
16 Assumes borrowers are eligible for the Automated Valuation Model (AVM) to calculate their home value, their loan amount is less than $400,000, all required documents are uploaded to their Better Mortgage online account within 24 hours of application, closing is scheduled for the earliest available date and time, and a notary is readily available. Funding timelines may vary and may be longer if an appraisal is required to calculate a borrower's home value.
17 Better Mortgage's One Day HELOC promotion offers qualified customers who provide certain required financial information/documentation to Better Mortgage within 4 hours of locking a rate on a HELOC loan the opportunity to receive an underwriting determination from Better Mortgage within 24 hours of their rate lock. The underwriting determination is subject to customary terms, including fraud and anti-money laundering checks, that take place pre-closing and which may trigger additional required documentation from the customer. Better Mortgage does not guarantee that initial underwriting approval will result in final underwriting approval. See One Day HELOC Terms and Conditions.
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