Access the equity you've built in your home
A HELOC or home equity mortgage lets you borrow against the value of your home for renovations, investments, education, or debt consolidation. Frank compares products from 20+ lenders to find the right structure.
HELOC vs. home equity mortgage
Two different ways to access your equity - your Frank advisor will help you decide which fits your situation.
HELOC (Home Equity Line of Credit)
A revolving credit line secured against your home, up to 65% of property value (or 80% combined with your existing mortgage).
- Borrow and repay as needed
- Interest charged only on amount drawn
- Variable rate, typically Prime + small margin
- No fixed payment schedule (interest-only minimums)
- Best for: renovations, ongoing expenses, investment
Home equity mortgage (second mortgage or refinance)
A fixed lump-sum loan secured by your property, structured as a standard mortgage with regular payments.
- Fixed amount, fixed payments
- Can be fixed or variable rate
- Can go up to 80% LTV combined
- Better for: large one-time costs, debt consolidation
- Provides more repayment discipline vs. HELOC
Typical HELOC eligibility benchmarks
These are general guidelines - your actual eligibility depends on lender, property, and your full financial picture.
Find out how much equity you can access
A Frank advisor will review your situation and show you the best HELOC and equity mortgage options available.