Home equity is the difference between your home's value and outstanding mortgage debt. You can borrow that equity with a fixed-rate home equity loan or a revolving HELOC; each has different costs, terms, and tax considerations.
How to use home equity responsibly, compare loan options, factor tax and costs, manage market risk, and maintain healthy billing and finance habits.
Understand mortgage features - portability, HELOCs/cash-out options, payment relief - and how mortgage disability/insurance options work so you can protect your Los Angeles home.
A cash-out refinance replaces your mortgage with a larger loan to access equity as cash. It can lower monthly payments, consolidate debt, or fund home improvements - but it raises your loan balance, may have higher rates and closing costs, and has tax and PMI implications.
Overview of American Pacific Mortgage as an independent mortgage broker, common loan types, the modern online loan process, and what borrowers should verify before applying.