Jordi Salas / Getty Images It might not make sense to use your home equity to pay off your mortgage. Key Takeaways Technically, you can use home equity financing to pay off a home loan, but that's often counterproductive. The only ways to access home equity are to sell your home or take out new financing, which comes at a cost. The nearly 50% rise in home values over the past six years—from $243,398 in November 2019 to $359,241 in November 2025—has helped many homeowners enjoy a surge in home equity ...

A streamlined approval process will allow self-employed, small business, and gig workers to qualify for a home equity line of credit up to $400,000 from Better.com. The "bank statement only" HELOC was announced on Tuesday, Sept. 30. See Better on our list of the best HELOC lenders. No tax returns, P&Ls, or W-2s A home equity line of credit enables homeowners to draw from the value in their house without refinancing their current mortgage or selling their home. Called a "second mortgage," a HELOC uses th ...