Check your home equity by subtracting your mortgage balance from your home’s current market value
Review your credit score and debt-to-income ratio
Gather income, employment, and mortgage documents
Compare lenders, rates, fees, and loan terms
Submit a home equity loan application
Provide property and financial documentation for underwriting
Get a home appraisal if required
Review and sign the loan closing documents
Receive the loan funds
Make the required monthly payments on time