How to Get Equity Out of Your Home Without Refinancing

Key Takeaways

Table of Contents

Check your best options to tap home equity. Start here

Refinancing isn’t the only way to tap your home equity. If you have a low rate or are nearly paid off, alternative options may make more sense.

We cover seven other ways to leverage your home’s equity without refinancing.

In this article (Skip to…)

Loan amount	80% to 85% of your home’s appraised value minus current mortgage balance
Funding timeline	2 to 6 weeks
Repayment term	5 to 30 years, with 10 to 15 years being most common
Requirements	15% to 20% equity, a 620 credit score or higher, a max DTI of 45%, and sufficient income

Loan amount	80% to 85% of your home’s appraised value minus current mortgage balance
Funding timeline	2 to 6 weeks
Repayment term	5- to 10-year draw period, followed by a 10- to 20-year repayment period
Requirements	15% to 20% equity, a 620 credit score or higher, a max DTI of 45%, and sufficient income

Funding amount	Typically 5% to 20% of your home’s current market value
Funding timeline	3 to 6 weeks
Term length	10 to 30 years, or when you sell or refinance
Requirements	Significant home equity (often 20–30% minimum), good credit and no recent major delinquencies

Funding amount	Typically the full market value of your home at the time of sale
Funding timeline	2 to 6 weeks from agreement to closing
Term length	Lease terms often range from 1 to 5 years, with possible renewal or repurchase options
Requirements	Must own the home outright or have sufficient equity; agreement depends on buyer/investor approval

Loan amount	Varies based on equity; second mortgage typically allows up to 80–85% of your home’s value minus your new first mortgage
Funding timeline	3 to 6 weeks for both steps combined
Term length	First mortgage: 15–30 years; second mortgage: 5–30 years depending on product
Requirements	Sufficient equity (typically 15–20%), credit score of 620+, and ability to qualify for both loans