Unlock cash from your home equityReceive up to $500K as a lump sumKeep your current mortgage and rate
Get up to 90% of your home’s value to pay off debt, make improvements, or anything you need.
Get your best options from industry-leading technology that analyzes all your financial factors.
Get a clear picture of your loan options without affecting your credit score.
Over 730K clients. 23 years’ experience. One goal: helping you build a brighter future.
See your best loan options with technology that analyzes your finances in real time.
Pick the right loan and term that helps you achieve your unique homeownership goals.
Get approved and funded quickly, so you can enjoy your new financial freedom.
See your best loan options with technology that analyzes your finances in real time.
Pick the right loan and term that helps you achieve your unique homeownership goals.
Get approved and funded quickly, so you can enjoy your new financial freedom.
Borrow against the difference between what your home is worth and what you still owe. You receive it as a single lump sum, repaid over a fixed term at a fixed rate.
Subtract your current mortgage balance from your home's market value. AmeriSave lets you borrow up to 90% of that figure. Some restrictions apply.
See your personalized loan options and lock your rate for the life of the loan. No surprises later. Apply online in only 3 minutes.
AmeriSave uses AI to speed up the loan process so you can close quickly. Sign electronically and watch the funds hit your bank account.
The same fixed monthly payment every month (excluding taxes and insurance), typically over 10 to 30 years, until the loan is paid off in full. Excludes interest-only options.
It's a second mortgage, so your original loan stays exactly as is. That's why a home equity loan is the smart move when you've locked in a low primary mortgage rate and don't want to lose it when you need to unlock cash.
Over a one-year window (interest only).
A home equity loan turns the value you've built into cash you can use for goals that matter.
Kitchens, additions, a new roof. The interest may be tax-deductible when proceeds substantially improve your home.
Pay off high-rate credit cards or personal loans with one fixed monthly payment at a fraction of the rate.
Often a lower rate than parent PLUS or private student loans, with the predictability of a fixed term.
Down payment on a second home, adoption costs, or a wedding; borrow at mortgage rates instead of draining savings or retirement accounts.
Four things lenders look at before approving a home equity loan. The stronger each one is, the more likely you’ll get a better rate.
Most lenders let you borrow up to 85% of your home's value, minus what you still owe on the first mortgage.
That's AmeriSave's threshold. Borrowers above 740 typically see the lowest available rates.
Your debt-to-income ratio (including the new payment) determines whether you can absorb another secured obligation. Lower is better; around 43% is the comfort zone.
For example, W-2s or two years of self-employment returns, plus recent paystubs and bank statements at application.
Both let you borrow against your equity. But the way you receive and repay the money is fundamentally different.
A home equity loan is one of the cheapest ways to borrow a large amount, but it's secured by your home, so it's not the right tool for every job.
Because your home is collateral, rates are typically a fraction of what you'd pay on a credit card or personal loan.
The same payment every month for the life of the loan. No payment shock when rates move.
Lump sums into the hundreds of thousands, depending on your equity; enough for a major renovation or full debt consolidation.
Unlike a cash-out refinance, your existing mortgage doesn't change. Useful when your primary rate is below today's market.
If used to buy, build, or substantially improve the home that secures the loan, per IRS rules. Consult a tax advisor for details.
If you can't make payments, the lender can foreclose. Don't borrow against equity for non-essential spending.
Expect appraisal, origination, and title fees; typically 2% to 5% of the loan amount.
You'll juggle your first mortgage and the home equity loan at the same time, every month.
Less flexible than a HELOC if costs roll in over time; you start paying interest on the full balance from day one.
If your property loses value, you could end up owing more than your home is worth.
A home equity loan is a type of second mortgage that enables you to borrow against a portion of your home’s equity. Upon approval, you’ll receive a lump sum of cash upfront and repay it through fixed payments and interest over a set term. AmeriSave offers flexible 20- or 30-year terms with a fixed interest rate for predictable payments. Continue Reading...
Home equity loans can offer several potential benefits, including large loan amounts, relatively low fixed rates, predictable payments and long repayment terms. With AmeriSave, you can borrow up to $500,000, offering flexibility for major financial goals.
The amount of money you can borrow with a home equity loan depends on your available equity, a lender’s set combined loan-to-value (CLTV) ratio limit and personal factors like your credit score and income. With AmeriSave, you can borrow up to 90% of your CLTV, with loan amounts ranging from $25,000 to $500,000.
You can use a home equity loan however you like. Common uses include consolidating debt, home improvements, starting a business, or covering education expenses.
A home equity loan provides a lump sum amount you repay through fixed payments over a set term. A home equity line of credit provides a credit line you can use on an as-needed basis during a defined draw period. While minimum payments are often due during a home equity line of credit’s draw period, full repayments don’t begin until the draw period ends. AmeriSave offers both options, and our Loan Advisors can help you decide which is right for your needs.
Home equity loan rates are based on market conditions and a few personal factors, such as your credit score, credit history, loan amount, debt-to-income ratio, income, and home value. The best way to see what rate you qualify for is to request an online quote.
Common requirements include sufficient home equity, good credit (a 640 minimum FICO score with AmeriSave), stable income and a qualified debt-to-income ratio.
While industry approval times can range from two weeks to two months, AmeriSave’s streamlined process helps you move faster. Based on home equity loans approved between June 2024 and January 2025, our median approval time was just 16 days, with an average of 21.2 days. The timeline will depend on factors like your response time to requests, appraisal turnaround times, and whether you have any credit or income challenges.
A home equity loan is a type of second mortgage. In other words, it’s a new loan that’s separate from your original loan and your current mortgage interest rate. This structure allows you to tap into your home’s equity while keeping your existing mortgage exactly as it is.
