HELOC
A revolving line of credit secured by your home's available equity. Your existing first mortgage may stay in place.
- First mortgage
- Stays in place
- New financing
- Revolving line (second lien)
- Purpose
- Potential access to equity as needed
For Arizona homeowners
Love your mortgage rate?
You may not have to give it up.
If you have substantial home equity but high-interest debt or monthly obligations, there may be ways to explore your equity without automatically replacing your existing first mortgage.
Protect the first.Solve the second.
Get my free home equity checkup
See the options·See the tradeoffs·You decide
- Not a loan application
- No credit check to request
- Arizona-based team
FoundationHome
ProtectFirst mortgage
Keep in place
ResourceHome equity
Available resource
SolveConsumer debt
Problem to evaluate
Your mortgage may not be the problem.
Many homeowners value the mortgage they already have. But life changes.
Credit cards add up. Expenses happen. Monthly payments climb. Home projects can't wait.
You may have built equity while also carrying expensive debt. So the first question shouldn't automatically be "Should I refinance my mortgage?"
A better starting question
"What am I trying to solve, and what options do I have?"
The game plan
Don't start with a loan. Start with the problem.
Protect
Your existing mortgage may be one of your most valuable financial positions.
Solve
Understand what other financial pressure you're trying to address.
Compare
Explore the available strategies and their tradeoffs.
Decide
You decide whether changing anything makes sense.
The goal isn't to sell you a HELOC. The goal is to help you understand whether using home equity makes sense for your situation.
Does this sound familiar?
- "I have a mortgage rate I don't want to lose."
- "I know my home has gained value."
- "My credit-card payments keep eating into my monthly cash flow."
- "I have multiple debts and want to understand whether combining them could make sense."
- "I need money for home improvements."
- "I've thought about a HELOC but don't understand how it works."
- "I was told refinancing is my only option."
- "I just want someone to show me the numbers without pressuring me."
You don't have to know which loan you need.
That's what the Home Equity Checkup is designed to help you understand.
Four possible paths
None is automatically right.
Fixed second (home equity loan)
A separate loan secured by your home that may allow your existing first mortgage to remain in place.
- First mortgage
- Stays in place
- New financing
- One-time loan (second lien)
- Purpose
- Potential lump-sum access to equity
Cash-out refinance
Replaces your existing mortgage with a new one and may provide access to equity. Sometimes this makes more sense.
- First mortgage
- Replaced by a new loan
- New financing
- One new first mortgage
- Purpose
- Potential access to equity in a single loan
No action
Sometimes the numbers simply don't justify changing anything. That's a valid answer.
- First mortgage
- Unchanged
- New financing
- None
- Purpose
- Keep things as they are while you evaluate
Availability, costs, rates and terms vary and depend on your circumstances.
Worth knowing up front
Home equityisn't free money.
- Borrowing against your equity creates debt secured by your home.
- Consolidating debt doesn't erase the debt. It moves it.
- Moving unsecured debt into debt secured by your home is a meaningful tradeoff.
- A lower monthly payment doesn't automatically mean a lower total borrowing cost.
- Qualification, costs, rates and terms vary.
- The right strategy depends on your circumstances.
We'd rather you understand this up front.
We want you to see the tradeoffs.
| Compare | Keep first + HELOC or fixed second |
Replace first with cash-out refinance |
Make no change |
|---|---|---|---|
| Your first mortgage | Stays in place | Replaced by a new one | Unchanged |
| How equity is accessed | A separate second loan or line | Through a single new loan | It isn't |
| Worth comparing | Second-lien terms, costs, and how repayment works over time | New terms against your current terms, closing costs, and total borrowing cost | Your current debts and cash flow as they are today |
Keep first + HELOC or fixed second
- Your first mortgage
- Stays in place
- How equity is accessed
- A separate second loan or line
- Worth comparing
- Second-lien terms, costs, and how repayment works over time
Replace first with cash-out refinance
- Your first mortgage
- Replaced by a new one
- How equity is accessed
- Through a single new loan
- Worth comparing
- New terms against your current terms, closing costs, and total borrowing cost
Make no change
- Your first mortgage
- Unchanged
- How equity is accessed
- It isn't
- Worth comparing
- Your current debts and cash flow as they are today
A strategy review may consider:
- Your current first-mortgage terms
- Potential second-lien terms
- Monthly obligations
- Consumer debt
- Available equity
- Closing costs
- Short-term cash flow
- Long-term borrowing cost
- Your goals
How it works
Your Home Equity Checkup
Tell us a little about your home and what you're trying to accomplish.
An Infinite Lending team member reviews what you shared and connects with you.
If appropriate, we'll help you explore potential strategies and tradeoffs.
You decide whether doing something, or doing nothing, makes sense.
Home equity checkup
01 / 08
Advice before products
Advice before products.
We don't start by deciding which loan to sell you. We start by understanding what you're trying to solve.
Sometimes the best answer is to leave everything exactly as it is.
David Madrid
Questions homeowners ask
What is a HELOC?
A home equity line of credit is a revolving line of credit secured by your home. You may be able to draw from it as needed, and terms vary by lender and program.
Will a HELOC replace my current mortgage?
No. A HELOC is typically a separate loan in second position, so your existing first mortgage may stay in place.
What's the difference between a HELOC and a home equity loan?
A HELOC is a revolving line you may draw from over time. A home equity loan (fixed second) is usually a one-time lump sum with set repayment terms. Both are secured by your home.
Why would someone consider a cash-out refinance?
A cash-out refinance replaces your current mortgage with a new one and may give you access to equity in a single loan. Depending on your current terms and goals, it can sometimes make more sense than adding a second loan.
Why would I refinance if my existing mortgage rate is low?
You might not. That's exactly why we look at the full picture (your first-mortgage terms, other debts, costs, and goals) before suggesting anything.
How much equity do I need?
There's no single answer. Requirements vary by lender, program, property, and your overall situation. A strategy review can help clarify what may be possible.
Does requesting a Home Equity Checkup affect my credit?
Requesting a checkup does not involve a credit check. If you later decide to apply for a loan, a credit review would be part of that process, and we'd tell you before it happens.
Do I have to apply for a loan?
No. The checkup is not a loan application. It's a conversation about your options.
What if I don't know what my home is worth?
That's okay. An estimate is fine. We'll talk through it together.
What if I don't qualify for a HELOC?
We'll review whether another strategy may fit. If nothing makes sense right now, we'll tell you.
Does consolidating debt eliminate the debt?
No. Consolidation moves debt into a different loan. It doesn't erase it, and it can change how much you pay over time.
What if the best option is doing nothing?
Then that's what we'll tell you. Doing nothing is a real option.
Do I have to move forward after seeing my options?
No. You decide what happens next, including nothing.
Protect the first. Solve the second.
See your options before you decide anything.
Get my free home equity checkup
No pressure. No obligation. No automatic refinance.
Your Home Equity Checkup is requested.
Thanks, neighbor.
We've received the information you shared. An Infinite Lending team member will review it and reach out based on your contact preference (your preferred method, your preferred time).
Next steps
What happens next?
- We review what you shared.
- We learn more about what you're trying to accomplish.
- If appropriate, we explore potential options.
- We show you the tradeoffs.
- You decide.
No pressure. No obligation. No automatic refinance.
Sometimes the best answer may be to leave everything exactly as it is.
Homeowner Resource Center
Coming soon.