Refinance
HELOAN
A fixed home equity loan for predictable access to cash.
Funding
Lump sum
Keeps first loan
Yes
Rate type
Usually fixed
Best use
Predictable equity loan
Overview
A Home Equity Loan provides a lump sum secured by your home's equity, usually with a fixed rate and fixed payment. It is built for homeowners who know how much they need and want predictability without touching their first mortgage.
Best for
- Homeowners who need a specific lump sum
- Debt consolidation or one-time major expenses
- Borrowers who prefer fixed payments over a line of credit
When it's not the fit
- You only need occasional access to funds
- You want the flexibility to borrow, repay, and borrow again
- A full cash-out refinance produces a clearly better total cost
How it works with BISU
- 1
We confirm your available equity and the amount you want to borrow.
- 2
We compare HELOAN, HELOC, and cash-out refinance options against your goals.
- 3
You receive funds at closing as a lump sum.
- 4
You repay with a separate, predictable monthly payment.
Frequently asked
What is the difference between a HELOC and a HELOAN?
A HELOC is a flexible line of credit you can draw from as needed. A HELOAN is a lump-sum loan with a more predictable payment structure.
Compare with other programs
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