A home equity loan is a fixed-rate second mortgage that gives you a one-time lump sum with predictable payments, while keeping your existing first mortgage in place.
The essentials
Below are the most common questions. For a personalized estimate of your lump sum and payment, a quick call is all it takes.
Frequently asked questions
What can I use a home equity loan for?
Renovations, debt consolidation, tuition, a large purchase — best for value-adding or debt-reducing uses.
Fixed or variable rate?
Fixed — both the rate and payment stay the same for the full term.
Does it replace my mortgage?
No — it’s a separate second lien; your first mortgage and rate stay in place.
How much can I borrow?
Typically up to ~80–85% combined loan-to-value minus your current balance, subject to credit and income.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766). Figures are illustrative for 2026 and not an offer of credit.