How to Access Your Home Equity Without Selling: 5 Options for Homeowners

If you have equity in your home but need cash, selling isn't your only option. Several financial tools let you access your home's value while maintaining ownership. Here are 5 options worth exploring.

1. Shared Equity / Home Equity Investment

Companies like Hometap, Point, and Unison offer lump-sum cash in exchange for a share of your home's future appreciation. There are no monthly payments and no interest charges. When you eventually sell or after a set period (usually 10-30 years), you share the appreciation (or depreciation) with the investor.

Typical terms: Receive 15-25% of your home's value as a lump sum. Settle after 10-30 years.

Best for: Homeowners with significant equity who want cash without monthly obligations.

2. Home Equity Line of Credit (HELOC)

A HELOC is a revolving credit line secured by your home equity. You can draw funds as needed and only pay interest on what you use. Most HELOCs have variable interest rates and a draw period of 5-10 years followed by a repayment period.

Best for: Homeowners with good credit who need flexible access to funds over time.

3. Home Equity Loan

Unlike a HELOC, a home equity loan gives you a single lump sum with a fixed interest rate and fixed monthly payments. It's like a second mortgage on your property.

Best for: Homeowners who want predictable payments and a one-time cash need.

4. Reverse Mortgage (Age 62+)

If you're 62 or older, a reverse mortgage (HECM) lets you convert equity into cash — either as a lump sum, monthly payments, or a line of credit. You don't make monthly payments; the loan is repaid when you sell, move out, or pass away.

Best for: Seniors who want to age in place and supplement retirement income.

5. Cash-Out Refinance

Replace your current mortgage with a larger one and pocket the difference. This works best when interest rates are favorable and you have substantial equity. You'll have a new mortgage payment, but you get a lump sum of cash.

Best for: Homeowners who can qualify for a new mortgage and want to consolidate debt or fund major expenses.