Use your home’s equity to fund renovations, pay off debt, or cover life’s big expenses

As a homeowner, one of your biggest assets is your home’s equity. With property values rising across Colorado, many owners are looking for ways to put that equity to work. Home equity loans in Colorado, including HELOCs (Home Equity Lines of Credit), offer flexible financing options to access the cash you need without refinancing your current mortgage.

At Choice Mortgage Group, we help homeowners across Centennial, Denver, Castle Rock, Parker, Highlands Ranch, and beyond understand their equity options and how they fit into a bigger financial plan.

What is a home equity loan or HELOC?

A home equity loan is a second mortgage that gives you a lump sum of cash, usually with a fixed rate and term. A HELOC is a revolving credit line you can draw from as needed, similar to a credit card, often with a variable interest rate.

These loans are secured by your home and typically available to homeowners with at least 15–20% equity.

Want to learn more? Visit the Federal Trade Commission’s guide to home equity loans and HELOCs

Common uses for home equity

• Home renovations and upgrades
• Debt consolidation (especially high-interest credit cards)
• College tuition or medical expenses
• Down payment on a second home or investment property
• Emergency fund or large one-time expense

You can even use a home equity loan as part of a buy now, sell later strategy if you’re planning to move but haven’t sold yet.

Key benefits

• Keep your existing low-rate mortgage
• Access cash without a full refinance
• Fixed or variable rate options
• Interest may be tax-deductible (check with your tax advisor)

Who qualifies?

You may be eligible for a home equity loan or HELOC if:

– You have at least 15–20% equity in your home
– You have a credit score of 620 or higher
– You have reliable income and manageable debts

We’ll help you explore whether a second mortgage or full refinance makes more sense for your goals.

Even if we don’t offer HELOCs directly, we’ll point you in the right direction and help you look at your overall options, including cash-out refinancing or bridge loan solutions.

Call or text us at 303-670-0137, email rbaxter@choicemortgage.com, or request an equity review. We’ll help you understand your home equity and how to make the most of it.