Quickly Access your Home Equity
Want to turn your home equity into cash? A home equity loan or HELOC with MiLEND lets you unlock your equity at a lower rate than other types of loans. Faster than a Bank. Cheaper than Credit Cards.
Competitive Rates
Easy Online Application
Approved in Minutes
Loans up to $750K
Funding in a Week
Flexible Access to your Home Equity as Cash
Simple, flexible access to your home’s equity as cash to use as you see fit. Take cash out by unlocking your equity with a Home Equity Loan or HELOC suitable for a variety of uses:
Home Renovations
One of the most common uses for a HELOC is to cash out your equity to fund home renovations, improvements, or make repairs. Investing your equity back into your home can improve your home’s value for many years to come.
Debt Consolidation
Personal Loans, Auto Loans, and Credit Cards often carry much higher interest rates than a HELOC – with most credit cards carrying an interest rate of 24% or more. A HELOC let’s you take out cash to pay off debt and pay much lower interest, slashing monthly expenses dramatically.
Unexpected Expenses
Having a HELOC available can serve as a financial safety net for unforeseen costs like significant medical bills or major home repairs. You only pay interest on the amount you draw, making it a flexible option to access cash to cover these expenses at a low interest rate.
Unlocking your Home Equity is Easy
Step 1 Choose your Options
Answer a few questions to help us get to know your needs, so we can find the loan options that are a perfect fit for you.
Step 2 Get Paired with an Expert
Your licensed HELOC expert will draw upon years of mortgage experience and collaboration with other loan experts to put together the best loan options for you based on your unique needs and financial goals.
Step 3 Lock in Your Low Rate
Your Loan Officer will lock in your low rate, submit your home equity application, and walk you through any additional steps to make sure your loan is funded quickly.
How much equity can I unlock?
Use our home equity calculator to quickly estimate how much of your home equity you can use.
Home equity estimator
See how much you could pull out of your home
Your numbers will carry over to the form automatically
Estimates only. Most lenders cap combined LTV at 80–85%. Cash-out = (home value × max LTV) minus your existing mortgage. Your actual rate, fees, and limits depend on credit score, income, and lender. Talk to an actual human before signing anything.
Questions about Unlocking your Equity
How to apply for a Home Equity Loan
You can apply for a home equity loan online or over the phone. Our application process is designed to be simple, and a loan specialist will review your information and guide you through the next steps.
What to expect
After you submit your application, your dedicated loan officer will review your income, property details, and available equity. They’ll also match you with the best program to fit your needs and help you unlock the most equity at the best rates and terms. If we need any additional documents, we’ll let you know.
If your application is approved, we’ll move forward with the remaining steps, which may include a property valuation, final underwriting, and closing.
How to get started
You can begin your application online at any time or call us to apply by phone. If you have questions along the way, our team is here to help.
Minimum credit score for a HELOC
Credit score is only one part of qualifying for a HELOC – other factors include your debt-to-income ratio, income, and how much equity you have in the home. Typically, our home equity programs need a minimum credit score of 620 to qualify. Credit score in the high 500s or low 600s? There could still be financing options for you!
Don’t hesitate to reach out to one of our licensed mortgage consultants since there may be a cash out refinance program that has lower credit score requirements and can still help you access the equity you need.
What the approval process looks like for a Home Equity Loan
Our home equity loan approval process includes an application, document review, underwriting, property valuation, and final approval. You can apply online or over the phone to get started. You could get cash out of your equity in a matter of weeks:
Typical steps
Determine eligibility. Lenders generally look at how much equity you have, your credit score, debt-to-income ratio, and income stability.
Send supporting documents. Common documents include proof of income, ID, and proof of homeownership such as a mortgage statement or property tax bill.
Underwriting review. The lender verifies your information, checks your credit, and confirms that the loan amount fits your available equity.
Home valuation and title review. The lender typically orders an appraisal or other valuation and reviews the property title.
Final approval and closing. If everything checks out, you get a loan estimate, sign the final documents, pay any closing costs, and receive the funds.
How does a home equity loan work if your house is paid off?
A home equity loan lets you borrow a lump sum against the part of your home you already own, and you repay it in fixed monthly payments over a set term. If you own your home outright, the lender can still use the house as collateral, and you may be able to borrow up to a percentage of the home’s value, often around 80% to 85%, depending on the lender and your finances.
A simple example: if your home is worth $300,000 and a lender allows borrowing up to 80% of value, the maximum total debt secured by the house would be $240,000. With no mortgage balance, that could mean borrowing up to about $240,000, though actual limits depend on the lender.