Hear from homeowners who chose Rocket Mortgage.
Made our lives easier by helping us get an equity loan to pay off bills. We can breathe easier now without the stress.
The Collins
Thank you for consolidating all our debt into one easy payment...! Saving us thousands and simplifying our monthly payments!
Dawn
I wasn’t sure I’d be able to get a home equity loan, but working with Rocket Mortgage was great and they made it happen!
Dave A.
From the initial phone call to the closing, the whole second mortgage experience was outstanding!
Rick A., Sr.
Excellent work on getting me the best rate, also the process time for closing on my equity loan.
Shaffeek K.
What is a home equity loan?
A home equity loan lets you borrow against the equity you’ve built in your home. In other words, you exchange a portion of your equity for cash.
Cash you can use for anything
You can typically borrow about $45,000 to $500,000, depending on your equity. Our clients take out about $80,000 on average.
No change to your current mortgage
A home equity loan is a second mortgage, so your current mortgage and interest rate won’t change.
Lower interest rate than credit cards
Your equity is used as collateral, which gets you a lower interest rate than most credit cards or personal loans.
You’ve got dreams. Your home equity can help you reach them.
Your home equity loan checklist
If you can check off all these items, a home equity loan might be a good choice for you. If your situation is different, we’d love to help. Our Home Loan Experts will work to find options that fit your life and goals.
680+ Credit Profile
The better your credit, the more cash you may be able to access.
$45K+ in home equity
You typically need enough equity to take out at least $45,000.
Room in your budget
You’ll need to budget for a second loan payment and closing costs.
Related Info
Learn more about your home equity and how you can tap into it.
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