Homeowners typically access equity through three main vehicles:
: Replaces your existing mortgage with a new, larger one. You receive the difference in cash, which is useful if your current mortgage rate is higher than current market rates. 2. Current Market Conditions (April 2026) home equity to buy second home
: A second mortgage providing a lump sum at a fixed interest rate. It offers predictable monthly payments but requires immediate repayment of principal. home equity to buy second home