A SET AMOUNT
Home equity loan
Receive a lump sum for a defined need. An existing first mortgage can remain in place.
- How you access funds
- One lump sum
- What to compare
- The added payment, rate, fees and repayment term
CALIFORNIA & TEXAS HOMEOWNERS
Home Equity Loans.
For the plans you have now.
Your home’s equity could help fund a renovation, consolidate debt or cover a major expense. Compare the cost of accessing it with the mortgage you already have.
START WITH YOUR GOAL
Access equity with a clear view of the cost.
Home equity is the difference between your home’s value and what you owe against it. A home equity loan provides a lump sum secured by your home. If an existing mortgage stays in place, the new loan adds a separate payment.
Equity Capital Home Loans is a mortgage brokerage serving California and Texas. Work directly with Douglas to review your goal, compare financing structures and understand the next step.
Your home secures the borrowing. Compare total interest, closing costs and repayment terms. Moving other debts into a home loan puts your home at risk if you cannot repay.
THREE WAYS TO ACCESS EQUITY
Which structure fits your plans?
These descriptions explain the structures. Available programs and terms depend on the lender, property location and your eligibility.
AVMS AND APPRAISALS
An in-person appraisal may not be needed.
Some home equity loans and HELOCs may qualify for an automated valuation. Your lender still needs an acceptable property value and decides which valuation method is required.
What is an AVM?
An automated valuation model uses property records, recent comparable sales and local market data to estimate a home’s value by computer. It can support an eligible loan without an appraiser visiting the home.
How is an appraisal different?
An appraisal is a professional opinion of value prepared by a licensed or certified appraiser. A traditional in-person appraisal includes a property visit. Other appraisal methods may use different inspection arrangements.
An AVM is an estimate. The lender may require additional review or an appraisal when the property or valuation does not meet its requirements. Ask which valuation costs apply to your option.
A CONVERSATION FIRST
Bring three starting numbers.
An estimate is enough to begin the conversation.
- Your estimated home value
- Your current mortgage and other lien balances
- The amount you would like to access
Tell Douglas where the property is and what the funds would help you do. We’ll discuss the payment and documentation before you decide how to proceed.
Start My Home Equity ConversationHOMEOWNER QUESTIONS
Clear answers before you borrow.
Can I get a home equity loan without an appraisal?
Some home equity loans and HELOCs may qualify for an AVM instead of a traditional in-person appraisal. The lender decides based on the property, loan details and available valuation data. Additional review or an appraisal may still be required.
Can I access equity while keeping my current mortgage?
A separate home equity loan or HELOC can leave an existing first mortgage in place. You would have an additional payment. A cash-out refinance replaces the existing mortgage, so compare the effect on your full balance and total borrowing cost.
How much home equity can I borrow?
Start with your estimated home value, current mortgage balances and the amount you want to access. The lender’s combined loan-to-value limit, credit review and repayment requirements determine what may be available. Your total equity is different from the amount you can borrow.
Is a home equity agreement the same as a home equity loan?
Home equity agreements, also called home equity investments (HEIs), have a different payment structure. They generally exchange cash now for a future payment tied to the home’s value. Review fees, valuation rules and settlement deadlines. A contract with no monthly payment can still require a substantial future payment.
What should California and Texas homeowners compare?
Review the property location, available equity, payment, fees and repayment terms. State rules and program availability can differ. Douglas can help you review the options for your property and the information needed for the next step.