HOME EQUITY LOANS & HELOCS
Use Your Equity Without Giving Up Your Rate
If you locked in a low mortgage rate, a cash-out refinance means handing it back on your entire balance. A home equity loan or a HELOC doesn't touch your first mortgage at all. It sits behind it, so your rate, term, and payment stay exactly where they are. As a Mortgage Broker with Barrett Financial Group, I compare second lien programs across 200+ lenders to find the one that actually fits what you're doing.
Two Ways to Tap Your Equity, and They're Not the Same
A home equity loan gives you one lump sum at a fixed rate with a fixed payment, which is the right tool when you already know the number. A HELOC is a revolving line you draw from as you go, paying interest only on what you've actually used, which is the right tool when the total isn't set yet. Same collateral, very different shape. Most people land on this page not knowing which one fits, so I price both and show you the real difference before you decide anything.
What You Get With Jim
Your Low Rate Stays
A second lien sits behind your first mortgage. Your original rate, term, and payment don't change at all.
200+ Lenders
Second lien limits and terms vary a lot from lender to lender, and that spread is real money. I shop it for you.
Loan vs. Line, Compared
I price a home equity loan against a HELOC side by side so you can see which one actually costs you less.
Honest Guidance
Sometimes a cash-out refinance still wins. If that's your situation, I'll tell you instead of selling you a second.
A Simple, Straightforward Way to Use Your Equity
Tell Me the Goal
Renovation, ADU, debt consolidation, tuition, or a cushion you want available. What you're funding decides which product fits.
Find Your Number
I look at your home's value, what you still owe, and your credit to tell you what you can actually borrow.
Compare Your Options
Home equity loan, HELOC, and cash-out refinance, priced against each other so you're choosing with real numbers.
Close & Put It to Work
I handle the paperwork and the lender. Most of my loans are cleared to close within about two weeks.
WHERE I HELP HOMEOWNERS
Where I Help Homeowners Use Their Equity
Jim Apessos is a Mortgage Broker with Barrett Financial Group, helping homeowners tap their equity across the Phoenix West Valley, including North Glendale, Peoria, Surprise, Sun City, Litchfield Park, and Goodyear. He also works throughout Southern California, from Orange County and San Diego County out to the Inland Empire, and is licensed in Colorado, Florida, New Jersey, Oregon, Pennsylvania, and Washington. Wherever your home is, I'll help you figure out whether a home equity loan, a HELOC, or a cash-out refinance actually fits what you're doing.
FAQs
Frequently Asked Questions
How is a home equity loan different from a HELOC?
A home equity loan is one lump sum at a fixed rate with a fixed payment. A HELOC is a revolving line you draw from as you need it, usually at a variable rate, and you only pay interest on what you've actually used. If you know the exact number, the loan usually wins. If the total could grow or you just want funds standing by, the line does. I'll price both so you can see the real difference.
Will this change my current mortgage?
No. Both options are second liens that sit behind your existing mortgage, so your rate, term, and payment stay exactly where they are. That's the whole reason people use them instead of a cash-out refinance, especially if they locked in a low rate a few years back.
How much can I borrow?
It comes down to what your home is worth, what you still owe on it, your credit, and the individual lender's limits. Those limits vary quite a bit from one lender to the next, which is exactly why it's worth shopping instead of taking the first offer. Send me your numbers and I'll give you a real range, not a guess.
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Licensed in AZ, CA, OR, WA, CO, PA, NJ & FL
Visit Barrett Financial Group’s Website
James Apessos | NMLS #229056 | Barrett Financial Group, L.L.C. | NMLS #181106 | 2701 East Insight Way, Suite 150, Chandler, AZ 85286 | AZ 0904774 | CA 60DBO-46052 & 41DBO-148702 Licensed by Dept. of Financial Protection & Innovation under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Financing Law License | CO | FL MLD1880 | NJ | OR | PA 92105 | WA MB-181106 | Equal Housing Opportunity | Equal Housing Lender | This is not a commitment to lend. All loans are subject to credit approval. | nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/181106
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