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HELOCs and home equity loans

Keep your low rate. Get the cash your home has earned.

You worked hard for that first mortgage. A second mortgage lets you use your equity without refinancing the loan you already love.

See what I could get Book a 7-minute call

One conversation. Real options. No pressure.

Open front door of a home with flowers outside

Why not just refinance?

A cash-out refinance replaces your whole mortgage.

If you locked in a low rate a few years ago, a cash-out refi trades that rate for today's rate on your entire balance, not just the cash you take out.

A second mortgage works differently. Your first mortgage stays exactly as it is. You only borrow the amount you need, as a separate loan.

Cash-out refinance

New rate on everything

Your current loan is paid off and replaced. The new rate applies to the full balance.

Second mortgage

Your first loan stays put

Your low rate and payment on the first mortgage do not change. The new loan covers only the cash you need.

Two ways to tap your equity

A line of credit, or one lump sum.

Both sit behind your first mortgage. The right one depends on how you plan to use the money.

HELOC

A home equity line of credit. Draw what you need, when you need it, up to your limit.

  • Borrow in stages, like a credit card backed by your home
  • Interest only on what you actually use
  • Rates are usually variable

Often a fit for: projects paid over time, or a safety net you may not fully use.

Home Equity Loan

A fixed amount, paid out at closing, with a set repayment schedule.

  • One lump sum, all at once
  • Fixed-rate options with a steady payment
  • Easy to plan around

Often a fit for: one big expense, or paying off higher-interest debt.

Watch the walkthrough

Should you use your equity to pay off credit cards?

Follow Maria's story: the real math, the honest risks, and the truth about tax deductions. About 5 minutes.

All numbers in this video are a hypothetical example for education only. They are not an offer, a quote, or a promise of any rate, payment, approval, or tax benefit.

What homeowners use it for

Your equity, your plans.

Home improvementsKitchen, roof, pool, the addition you keep talking about.
Paying off debtRoll higher-interest balances into one payment.
EducationTuition and school costs for you or your kids.
A rental or second homeUse equity toward the down payment on your next property.
Starting a businessFund the idea you have been sitting on.
A cushionMoney ready for the unexpected, so you are not scrambling.

Tax time

Improving your home? The interest may be tax deductible.

When you use a HELOC or home equity loan to buy, build, or substantially improve the home that secures it, the interest you pay may be deductible, the same way your first mortgage interest can be.

May qualify
  • Kitchen or bath remodel
  • New roof, windows, or HVAC
  • A room addition or pool
Does not qualify
  • Paying off credit cards
  • Cars, vacations, or tuition
  • Everyday expenses

It is the interest that may be deductible, not the whole payment. You generally need to itemize, and limits apply. Tax rules change, so talk with your CPA or tax advisor before you decide. I am a loan officer, not a tax advisor, and I am happy to share the loan numbers with your CPA.

Happy homeowner celebrating at his desk with his paperwork
Cheryl Falkner, loan officer
Cheryl Falkner Loan Officer | NMLS #1959125

Meet your loan officer

More options. One person to call.

A bank can only offer you its own product. I have access to a wide range of HELOC and home equity loan programs, so I can compare your options side by side and bring you the one that fits.

  • More ways to say yes

    Different programs have different limits and guidelines. If one does not fit, another may.

  • A real person

    You talk to me, not a call center. Call, text, or email, and I answer.

  • Straight answers

    I explain the choices in plain language, including when a second mortgage is not the right move.

Call or text me: (813) 551-2669Book a 7-minute callApply now

How it works

Three simple steps.

Tell me about your home

Call, text, or book a quick call. Share your rough home value, what you owe, and how much you need.

I compare your options

I look at the HELOC and home equity loan programs that fit your situation.

You choose

We walk through the best fits together. You decide if and when to move forward.

Get started

See what your equity could do.

Tell me a little about your home and what you need, and I will walk you through your options. No pressure, and rough numbers are fine.

Let's talk about your home.

Pick whatever is easiest for you.

Call or text me(813) 551-2669 Book a 7-minute callPick a time and I will call you Apply nowReady to go? Start your application

Questions

Good to know.

Will this change my first mortgage?

No. A HELOC or home equity loan is a separate loan. Your first mortgage rate, balance, and payment stay the same.

How much can I borrow?

It depends on your home's value, what you still owe, your credit, and each program's limits. Most programs cap the total of both loans at a percentage of your home's value. I will show you what each option allows.

HELOC or home equity loan: which is better?

If you need money over time, a HELOC is often a fit. If you need one amount now and want a predictable payment, a home equity loan usually is. We will look at both.

Does talking with you affect my credit?

No. Our first conversation is just that, a conversation. A credit check only happens if you decide to apply, and I will tell you before it does.

Which states do you serve?

I am licensed in Florida. For homes in other states, your loan is handled by a loan officer with my company who is licensed in that state, and I stay in the loop.

What does it cost?

Costs vary by program. Some have low or no closing costs, others trade that for a different rate. I will lay out the full costs of each option before you choose.