Sell the property
Selling converts available equity into proceeds after mortgage payoff and transaction costs.
Home equity options
Equity creates choices. Borrowing against it is only one of them.
Homeowners can potentially access or reposition equity through a sale, refinance, second lien, or future purchase strategy. The right decision depends on cost, liquidity, risk, and purpose.
Cash-out refinance
Replace the first mortgage with a larger loan and receive eligible equity as cash.
HELOC
A home-equity line of credit can provide revolving access to equity under its specific rate and repayment terms.
Home-equity loan
A second mortgage can provide a fixed lump sum while leaving the existing first mortgage in place.
Retain the equity
Doing nothing can preserve borrowing capacity and reduce leverage.
Use of funds
The purpose of the capital should justify the interest cost, fees, and increased leverage.
Casas Equity