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A home equity loan from Rocket Mortgage can help fund home improvements, like the painting project this mature man with silver hair.

Home Equity Loan

Get the cash you need without giving up a low interest rate on your current mortgage.1
Rocket Mortgage experts help clients like this mature Black man with silver hair understand when to refinance.

The Ins And Outs Of Refinancing

Read up on types of refinancing to see how to access your home equity.

Building home equity is a gradual process.

Some things that affect equity are out of your control — like the housing market — but there are other things you can do to help your equity grow.
Regular Payments
Simply making your payment each month will increase your equity over time as the loan balance decreases.
Extra Payments
Additional payments toward your loan balance can increase your equity and decrease the length of your loan.
Home Improvements
Home upgrades and energy-saving renovation projects can increase the value of your home, building equity.

Frequently Asked Questions

You can also get help from a Home Loan Expert.
(888) 452-8179

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1Home Equity Loan product requires full documentation of income and assets, credit score and max loan-to-value (LTV), combined loan-to-value (CLTV), and home equity combined loan-to-value (HCLTV) ratios. Requirements were updated 2/5/2024 and are tiered as follows: 680 minimum FICO with a max LTV/CLTV/HCLTV of 80%, 700 minimum FICO with a max LTV/CLTV/HCLTV of 85%, and 740 minimum FICO with a max LTV/CLTV/HCLTV of 90%. Your debt-to-income ratio (DTI) must be 50% or below. Valid for loan amounts between $45,000.00 and $500,000.00 (minimum loan amount for properties located in Michigan is $10,000.00). Product is a second standalone lien and may not be used for piggyback transactions. Product not available on Schwab products. Guidelines may vary for self-employed individuals. Some mortgages may be considered “higher priced” based on the APOR spread test. Higher priced loans are not allowed on properties located in New York. Additional restrictions apply. This is not a commitment to lend.