Skip to content

Facebook
LinkedIn
YouTube
Email
Instagram

CALL (916) 465-6639

Buy A Home
Refinance
Learning Center
Rates
Loan Options
Tools
Reviews
Contact Us
Apply Now
Sign In
Search

Open mobile menuClose mobile menu

Search

Home Equity

Home » Home Equity

Learn the pros and cons, HELOC vs HELOAN

HELOC vs HELOAN: Which Home Equity Option Is Best for You?

June 4, 2026
Aaron Clowes
Home Equity

HELOC vs HELOAN: Which Home Equity Option Is Best for You? If you're looking to tap into your home's equity, you've likely come across two popular options: a Home Equity Line of Credit (HELOC) and a Home Equity Loan (HELOAN)…

Step 1 of 22

4%

What are your goals?
We are committed to helping you reach them.
Purchase or Refinance
- I want to buy a home
- I want to refinance

Where are you looking to buy? City or Zip Code
City or Zip Code*

Where is the home located? City or Zip Code
City or Zip Code*

What type of home is it?
- Single Family
- Townhouse
- Condominium
- Multi-Family

Where are you in the home buying process?
- Signed a purchase contract
- Found a home
- Looking to buy within one month
- Looking to buy in 1 to 3 months
- Looking to buy in more than 3 months

How do you plan to use your new home?
- Primary Residence
- Vacation Property
- Investment Property

Have you or your spouse served in the US military?
Veterans and active US military may be eligible for a $0 down VA loan when purchasing a home.
- Yes
- No

What is your (or your spouse's) branch of military service?
- Army
- Marine Corps
- Navy
- Air Force
- Coast Guard
- National Guard
- Military Spouse
- Other VA Eligibility
- No Military Experience

Are you actively working with a real estate agent?
- Yes
- No

Is this your first time purchasing a home?
- Yes
- No

What is the approximate purchase price of the new property?
(it's OK to estimate)
What is the estimated value of your property?
Use the slider to select the price range of homes you're interested in (it's OK to estimate)

How much do you have for a down payment?
(it's OK to estimate)
What is the balance of your first mortgage?
(It's OK to estimate)

What is the interest rate of your first mortgage?
(It's OK to estimate)

Do you have a second mortgage?
- Yes
- No

How much additional cash do you wish to borrow?
(It's OK to estimate or if no cash-out leave at $0)

What is your current employment status?
- Employed
- Self-Employed/1099 Independent Contractor
- Retired

What is your household gross (before taxes) annual income?
- Less than $30,000
- $30,000 - $50,000
- $50,000 - $75,000
- $75,000 - $100,000
- Greater than $100,000

What is your credit score?
- Excellent 740+
- Good 700-739
- Average 660-699
- Fair 600-659
- Poor < 600

Have you had a bankruptcy or foreclosure in the past 3 years?
- Yes
- No

What is your first name?*
What is your last name?*

What is your email address?*
What is your phone number?*
Consent*
By checking this box, you agree to New Way Mortgage , Inc.’s Terms of Use and Privacy Policy. You consent to receive phone calls and SMS messages from New Way Mortgage, Inc. to provide updates on your order and/or for marketing purposes. Message frequency depends on your activity. You may opt-out by texting "STOP". Message and data rates may apply. Reply "HELP" to receive help.

How did you find us?*
- I saw you on YouTube
- I found you on Google
- Family or Friend referred me
- Facebook/Instagram/TikTok
- My Realtor referred me
- I'm a Past Client
- Other

About Us

New Way Mortgage is Powered by Xpert Home Lending, Inc. a Mortgage Broker licensed by the California Dept of Real Estate DRE # 02166758. NMLS 2179191. Equal Housing Opportunity

For licensing information, please visit https://www.nmlsconsumeraccess.org

Contact Us

3017 Douglas Blvd
Suite 300
Roseville, CA 95661
(916) 465-6639
hello@newwaymortgage.com

Loan Options

Sacramento FHA Loans
Sacramento First Time Home Buyers
Fixed Rate Mortgages
Sacramento Investment Property Financing
Sacramento Jumbo Loan Programs
Low Down Payment Options
Sacramento Home Refinance
Renovation Loan
Sacramento USDA Loans
Sacramento VA Home Loans

Resources

Contact Us
Get A Quote
Sacramento Mortgage Calculator
Reviews
NMLS Consumer Access
ADA Accessibility Statement
Privacy Policy
Terms of Use
Mobile Terms of Service

Contact Us
Get A Quote
Sacramento Mortgage Calculator
Reviews
NMLS Consumer Access
ADA Accessibility Statement
Privacy Policy
Terms of Use
Mobile Terms of Service

Back To Top

Search