Does a cash out refinance increase my loan balance

Yes. The new loan balance includes what you owe plus the amount you take as cash out, plus any financed costs if applicable.

Does a HELOC change my first mortgage

Usually no. A HELOC is typically a separate line of credit secured by your home, subject to lien position and lender requirements.

Is interest charged differently

Cash out refinances typically charge interest on the full new loan balance. HELOCs typically charge interest only on the amount you use.

Do I need an appraisal

Many cash out refinances and HELOCs require an appraisal or valuation, depending on the lender and program.

Which is better for home improvements

HELOCs can work well when you pay for projects in stages. Cash out refinances can work well when you need a larger one-time amount.

Can a HELOC be used for renovations?

Yes. HELOCs are commonly used to finance home improvement and renovation projects, depending on lender terms and approval.

Do I need contractor estimates for a HELOC?

Some lenders may request contractor estimates or project details depending on the HELOC structure and amount requested.

HELOC for Home Improvements in Lewisville, TX

Liberty Home Mortgage helps homeowners in Lewisville (75056) and Denton County compare home equity options for renovations and repairs (program dependent). A HELOC (Home Equity Line of Credit) may allow you to borrow against available home equity, often with a revolving line you can draw from as needed. Choosing the right option depends on your goals, timeline, and how you plan to use the funds.

Proudly serving Lewisville (75056), Denton County, and homeowners across Texas.

✅ Apply Now • 📞 Phone & Text: 713-955-4685 • ✉️ info@libertyhomemortgage.com

What a HELOC Is

A HELOC is a home equity option that may provide a line of credit secured by your home (program dependent). Many HELOCs have a draw period and a repayment period. Underwriting typically reviews credit, income, current mortgage, home value, and overall ability to repay.

Program guidelines vary by lender. All loans are subject to underwriting approval.

Common Ways a HELOC May Be Used

Homeowners may use a HELOC for projects like repairs, remodels, or major upgrades. Exact guidelines vary by lender and scenario.

Here are related loan programs you can compare (eligibility and program rules apply):

Related Programs

If you are comparing home equity and refinance options, these pages may help: