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Rancho Cordova homeowners have built real equity over the past several years. A HELoan turns that equity into a lump sum at a fixed rate.
Fixed payments make budgeting straightforward. You know exactly what you owe every month for the life of the loan.
620 typical
Min Credit Score
Up to 80%
Max CLTV
Fixed
Rate Type
Lump sum at close
Payout Structure
3–6 weeks
Est. Close Time
Home Equity Loans (HELoans) in Rancho Cordova
Most lenders want at least 20% equity remaining after the new loan. That means you can typically borrow up to 80% of your home's value, minus what you still owe.
Credit score requirements usually start at 620. Stronger scores above 700 get better rates. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect home equity loans (heloans) eligibility, lender expectations, and local market factors before comparing payment options in Rancho Cordova.
Rancho Cordova homeowners have built real equity over the past several years. A HELoan turns that equity into a lump sum at a fixed rate.
Fixed payments make budgeting straightforward. You know exactly what you owe every month for the life of the loan.
Most lenders want at least 20% equity remaining after the new loan. That means you can typically borrow up to 80% of your home's value, minus what you still owe.
Not every lender offers HELoans — some have pulled back on second mortgages entirely. We work with 200+ wholesale lenders and know which ones are actively funding these in Sacramento County.
Rate spreads between lenders on HELoans can be wide. Shopping matters more here than on a standard first mortgage.
A HELoan beats a cash-out refinance when your first mortgage rate is low. Touching that first mortgage to pull cash out right now costs you.
Use HELoans for defined projects — renovations, debt payoff, tuition. If your need is ongoing, a HELOC gives you more flexibility.
HELOCs give you a credit line you draw from as needed. HELoans give you one lump sum upfront. If you know the exact amount you need, a HELoan is cleaner.
Cash-out refinances replace your first mortgage. That makes sense if rates dropped — not when your current rate is already low.
Sacramento County appraisals drive how much you can borrow. Your lender will order one — the appraised value sets your equity ceiling.
Rancho Cordova has a mix of neighborhoods with different value profiles. Where your home sits in that mix affects your appraisal result.
Most lenders cap combined borrowing at 80% of your home's appraised value. Subtract your current mortgage balance to find your maximum.
No. It sits as a second lien behind your first mortgage. Your first loan terms stay exactly as they are.
Typically 3 to 6 weeks. An appraisal is usually required, which adds time to the process.
It can be if proceeds are used for home improvements. Consult a tax advisor for your specific situation.
Most lenders start at 620, but 700 or higher gets you meaningfully better rates. Rates vary by borrower profile and market conditions.
Some lenders allow it, but qualifying is harder and rates are higher. Fewer wholesale lenders participate in investment property second mortgages.