Your next step
Your equity. More than one way to use it.
Compare replacing your first mortgage with keeping it and adding an equity line. Look at the payments, terms, and full costs together.
Keep the whole picture in view
A plan that fits your situation.
Cash-out pays off the first mortgage and writes a new, larger one. A HELOC leaves that first mortgage alone and adds a second lien. If the rate on the first is one you would not choose to replace, the HELOC is the comparison that matters. Debt consolidation belongs in the same math: compare fees and total repayment costs, not just the monthly payment. Moving unsecured debt into a mortgage also puts your home at risk if you cannot repay.
- Cash-out replaces the first. A HELOC does not
- Debt consolidation lives here and on its own calculator
- If keeping the first wins, that is the recommendation
A useful place to start
HELOC vs. refinance
Compare the initial payment on a first mortgage plus a HELOC with a full cash-out refinance.
Keep first + HELOC / mo—
Full cash-out refi / mo—
Blended rate—
Lower initial payment—
The HELOC payment is interest-only. It does not pay down that balance. Compare future repayment terms and closing costs before choosing.
The HELOC payment is interest-only and does not reduce the HELOC balance. Future rate changes and repayment payments are not modeled. The refinance amortizes over the selected term. Both exclude taxes, insurance, PMI, and fees. Blended rate is not APR or a total-cost measure.
A real person. A clear next step.
A number is a start. Let’s make a plan.
Bring your questions and the numbers you’re working with. Brandon will help you understand the options and decide what comes next.
