Comparison hub
Compare the ways to access your home equity
This is a reading page. It does not replace the situation pages and it does not ask you to pick a goal. It explains how the structures differ so the right next step is obvious.
The short version
A fixed home equity loan and a HELOC both sit behind your first mortgage and leave it alone. A cash-out refinance replaces the first mortgage. Within the “leave it alone” group, the big split is whether the money comes all at once or as you draw it, because that decides what you pay interest on.
Rates as low as prime may be available for qualifying borrowers in eligible programs. Your rate and costs depend on your credit, combined loan-to-value, selected loan and program terms, and applicable fees.
See what you may qualify for
Check your qualifying rates and terms online. See your options, then decide whether to continue.
See my HELOC optionsNo impact on your credit score for the initial check. It is a soft credit pull.
- Opens West Capital Lending’s HELOC portal in a new tab. Zach is a broker; the lender runs the check.
- It asks for your property address, how the home is owned, and whether you live in it first, then checks your qualifying rates and terms.
- A hard credit inquiry happens only if you choose to continue to a full application.
- Funding in as few as five business days for eligible loans, subject to verification and closing requirements.
“He was very knowlegeable about different options and helped us choose what worked best for us!”
What clients consistently mention
- Responsive and easy to reach
- Explains the process clearly
- Patient guidance through decisions
- Finds options that fit the situation
Read the reviews on Experience.com
Read on 2026-09-10. General service reviews; they do not prove a result for your situation or point to a particular lender.
Rates as low as prime may be available for qualifying borrowers in eligible programs. Your rate and costs depend on your credit, combined loan-to-value, selected loan and program terms, and applicable fees. Combined loan-to-value means your first mortgage plus the new loan, as a share of what your home is worth.
About the link and the timing
The link carries Zach’s referral code so West Capital Lending knows you came through him. It carries nothing about you. Preliminary options are subject to verification and final approval.
Assumes remote online notarization; county recording rules, in-person closings, waiting periods, and loans of $400,000 or more can take longer. Not a three-day or same-day promise.
Prefer to talk first? Call or text Zach directly at (949) 537-1260. This is a direct line to Zach’s cell. Text anytime; when he is available he usually replies within minutes.
The structures
Four structures cover most of what homeowners are offered. The rows that matter most are “interest runs on” and “your first mortgage,” because those two drive the real cost.
| Fixed home equity loan | Draw-as-you-go HELOC | Fully funded line (some products) | Cash-out refinance | |
|---|---|---|---|---|
| Your first mortgage | Stays as it is | Stays as it is | Stays as it is | Replaced by a new, larger loan |
| How you get the money | One lump sum at closing | Draw what you need, when you need it, during a draw period | Full amount funded at closing, less the origination fee; some products offer additional draws later on their own terms | One lump sum at closing |
| Rate | Usually fixed | Varies by plan; many are variable | Product-specific; some are fixed on the drawn balance | Fixed or adjustable, on the whole balance |
| Payment | Fixed principal and interest | Set by the plan during the draw period; the balance is repaid afterward, often over ten or twenty years | Product-specific; some are principal and interest from the start | Principal and interest on the whole new loan |
| Fees | Origination and closing costs vary | Vary by lender and plan | Origination fee, deducted from proceeds in some products | Full closing costs on the whole loan, often financed |
| Interest runs on | The whole amount from day one | Only what you have drawn | The whole funded amount from day one | The whole new loan |
| Fits best when | You need a known amount once and want a fixed payment | Spending is staged or uncertain and you accept a variable rate | You need the full amount now and value speed or a fixed structure | Your current rate is near today’s rates, or the cash need is large |
The table describes typical forms, drawing on the CFPB explanations cited below and Figure’s public product pages. Individual products vary, and your actual offer’s terms are what count.
The alternatives that are not loans against the house
Sometimes the right answer does not involve a lien at all. Zach compares these on every situation page because they are often the cheaper or simpler route.
| Route | Fits when | Watch for |
|---|---|---|
| Unsecured personal loan | Amounts under roughly $25,000, no lien wanted, short payoff | Higher rate, shorter term |
| Balance-transfer card | A balance you can clear inside the promotional window | Rate resets, transfer fees |
| Contractor or vendor financing | One big-ticket purchase such as HVAC or windows | Promotional terms that reset, tied to one vendor |
| Staging, saving, or not borrowing | The need is flexible or the numbers are tight | Nothing, except the project waits |
Three things that trip people up
- Keeping your first-mortgage rate does not mean getting new cash at that rate. The new loan has its own rate. The old one keeps its own. The combined payment is what you actually live with.
- A lower monthly payment is not the same as a lower cost. A longer term drops the payment and raises the total paid. That can be a good trade or a bad one. It should be a visible choice.
- A note rate is not an APR. The note rate sets your payment. The APR folds in certain fees. Compare the same kind of number across offers, and look at fees separately.
Questions people ask
Will checking my options affect my credit score?
Check your HELOC options without impacting your credit score. Review your options, then decide whether to continue.
The initial rates-and-terms check uses a soft credit inquiry. Continuing and submitting a full application uses a hard inquiry that may affect your score. Preliminary options are subject to verification and final approval.
What rate will I get?
Rates as low as prime may be available for qualifying borrowers in eligible programs. Your rate and costs depend on your credit, combined loan-to-value, selected loan and program terms, and applicable fees.
Each situation page states the note rate its example uses and, beside it, the APR that rate produces with the example’s origination fee. For home equity lines that rate and fee are one cell of West Capital Lending’s pricing grid for one borrower profile, used as a calculation input so the arithmetic is visible. It is not a quote to you, and a note rate is not an APR.
How fast can this fund?
Funding in as few as five business days for eligible loans, subject to verification and closing requirements.
Assumes remote online notarization; county recording rules, in-person closings, waiting periods, and loans of $400,000 or more can take longer. Not a three-day or same-day promise.
Which structure is cheapest?
There is no universal answer. The cheapest structure is the one whose interest runs on the least money for the least time, at a rate you can live with. A fully funded loan you spend over a year is rarely cheapest. A draw-as-you-go line you keep for fifteen years at a variable rate may not be either. Put your actual timeline next to the table above and the answer usually shows itself.
Do I have to know which structure I want before I check my options?
No. The online check is where your qualifying rates and terms get checked. Read this page for the vocabulary, check your options, then talk it through with Zach if you want a second set of eyes.
Go to the page for your situation
Each situation page has a worked example, the tradeoffs specific to that decision, and the same simple next step.
- 01Keep your mortgage, get cashCan I get cash out without replacing my current mortgage?
- 02Consolidate debtCould I replace several debt payments with one payment?
- 03Fund a projectHow do I pay for this project without wrecking my monthly budget?
- 04Cash before your saleCan I get cash out of my home before it sells?
- 05A HELOC payment that is changingMy HELOC payment is changing. What are my options?
- 06Divorce home buyoutHow can I buy out my spouse and resolve the mortgage?
- 07Keep this home, buy the nextCan I buy my next home and keep this one as a rental?
- 08Self-employed, returns look lowCan I refinance or buy if my tax returns do not show what my business earns now?
- 09Investment property, no income docsCan I buy a rental with 20% down and no income documents?
Sources and checked dates
| What we say, and what it depends on | Source | Checked |
|---|---|---|
| Rates as low as prime may be available for qualifying borrowers in eligible programs. Rate and costs depend on credit, combined loan-to-value, selected loan and program terms, and applicable fees. Prime is a benchmark, not an APR, and not every borrower qualifies for it. The assumed rates in the examples on this site are calculation inputs, never an advertised rate. Exact program terms come from the lender at the time of your check. | Confirmed by Zach, September 2026 | 2026-09-10 |
| On the West Capital Lending HELOC registration page, checking qualifying rates and terms uses a soft credit pull that does not affect the credit score; continuing and submitting an application requests a full credit report, which is a hard pull that may affect credit. From the registration page’s own footnotes, read on September 9, 2026. The first screen asks for the property address, how the home is owned, and whether you live in it; what later screens ask was not inspected. | West Capital Lending HELOC registration page (referral id omitted here) | 2026-09-09 |
| The same registration page’s footnote 3 says five-minute approval is subject to income and employment verification and a property condition report, and that funding in as few as five business days assumes remote online notarization and can take longer where e-signature recording is unavailable, an in-person closing is required, or a waiting period applies. From the registration page’s footnotes, read on September 9, 2026. Figure’s own footnote additionally assumes loans under $400,000. Not a three-day or same-day promise. | West Capital Lending HELOC registration page footnotes | 2026-09-09 |
| Figure’s footnote describes its home equity line as “an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination.” Read 2026-09-10. The same page advertises an option to take additional draws later, and the footnote says the fixed rate for an additional draw may be higher than the rate on the initial draw; the terms of that option are Figure’s, not summarized here. | Figure HELOC product page and footnotes | 2026-09-10 |
| Figure’s FAQ says borrowers “repay principal and interest throughout the loan term,” that the only fee it charges is an origination fee of 0% to 4.99% of the initial draw that is “deducted from the original loan amount,” and that valuation or appraisal costs may also apply. Read 2026-09-10. Exact broker-channel fees are not verified. | Figure HELOC FAQs | 2026-09-10 |
| Figure’s page says no in-person appraisal is needed for loans under $400,000; its footnote adds that the borrower may pay for a valuation ($180) if an automated valuation is not available, or for an appraisal if the loan amount exceeds $400,000. Read 2026-09-10. Treatment of exactly $400,000 is not stated. | Figure HELOC product page and footnotes | 2026-09-10 |
| Figure advertises funding in as few as five business days under stated conditions. Figure’s footnote, read 2026-09-10: the five-business-day timeline “assumes closing the loan with our remote online notary, and where loan amounts are under $400,000 which would not require an appraisal,” and timelines “may be longer” in counties that do not permit e-signature recording, require an in-person closing, or impose a waiting period. Approval is “ultimately subject to verification of income and employment” and a property condition report. | Figure HELOC product page and footnotes | 2026-09-10 |
| The CFPB describes a HELOC as an open-end line of credit for borrowing repeatedly against home equity, says draw and repayment periods vary (a draw period could last 10 years; repayment often over ten or 20 years), and warns that falling behind could cost you your home. Educational reference only. Page fetched and quoted on 2026-09-10; the page shows a last-reviewed date of August 28, 2026. | CFPB, What is a HELOC? | 2026-09-10 |
| The CFPB says home equity loans may carry upfront fees and costs, so compare more than the monthly payment, and that someone considering one to pay off debts should explore alternatives that do not put the home at risk of a forced sale. Educational reference only. Page fetched and quoted on 2026-09-10; the page shows a last-reviewed date of September 11, 2024. | CFPB, What is a home equity loan? | 2026-09-10 |
Written for and accountable to: Zach von der Linden, Mortgage broker and Branch Manager, West Capital Lending.
Last substantive review by Zach: 2026-09-11.
Sources for product claims are listed on this page, with the date each was checked.