Best Home Equity Loans of 2025

Quicken Loans is an industry leader in purchase mortgages and refinancing. Although it does not offer home equity loans or lines of credit, it does offer a cash-out refi option as part of its refinancing products.

A cash-out refinance is taking out a new mortgage on your home to replace the previous one, while at the same time getting a better rate and receiving some of the equity back as cash. This differs from home equity loans and HELOCs which are essentially a second loan on your home.

Cash-back refis are available for several loan products:

• FHA loans can refinance up to 80% of the home’s value
• 30-year fixed-rate loans
• Adjustable rate mortgages (ARMs)
• VA loans that allows borrowers to refinance up to 100% of the home’s value

Quicken Loans, along with its online portal Rocket Mortgage, offer resources and tools for borrowers to understand the ins and outs of the refinance process and determine the best possible loan for their needs.

Customer support is Quicken Loan’s forte, having been named highest in customer satisfaction for mortgage servicing for seven consecutive years. Mortgage experts can guide borrowers through the process of accessing their home equity to achieve their financial goals.

• Lower the interest rate from your current mortgage
• Receive cash for home improvements, college tuition, or paying off debt
• FHA, 30-year fixed-rate, ARMs, and VA loans options available
• 24/7 access to your loan through the Rocket Mortgage app

Homeowners may want to tap into their home equity for a variety of reasons, including paying off debt, funding an education, home renovations, or even less common reasons such as retirement, investing, or buying other properties.

Hometap provides a novel way of using home equity to secure funds you might need now. Hometap is not a lender. Instead of offering home equity loans, lines of credit, or cash-out refinancing, the company makes an investment in your property, providing cash at the moment for a share in the home’s future value.

With Hometap’s services, homeowners can access cash from their accumulated equity without having to make monthly payments and with no interests against the borrowed money. They have 10 years to either buy out Hometap’s investment or sell the home and pay the company the percentage they own.

The Hometap Investment process is completed in four easy steps. Homeowners need to:

• Fill out the investment inquiry with personal and ownership information.
• Speak with the assigned Investment Manager to go over the Investment Estimate and talk numbers, as well as going over any questions related to the process.
• Complete and submit the application after uploading documents online.
• Sign the documents after a physical appraisal has been completed and the investment details have been finalized.

The website offers homeowner resources and tools such as calculators so that they can better understand their financial situation, what home equity options are available, and how to best use Hometap services.

Hometap services are currently available in 14 states (AZ, CA, FL, MD, MA, MI. MN, NJ, NY, NC, OR, PA, VA, WA) with more on the way.

• Secure funds without taking on debt
• Dedicated Investment Manager to guide the process
• No monthly payments and no interest
• 10-year terms to settle, sell or refinance