List Of How Strict Is Home Equity Compared To Refinance 2022. Shop rates and compare closing costs: You can borrow up to 80 percent or 85 percent of your equity, depending.

Your home equity is the difference between your property's market value and the outstanding balance of your mortgage, plus any other debts secured by your property. Home equity financing can offer lower interest rates (because it's secured by the equity/ownership you have in your home) with minimal closing costs and fees. A reverse mortgage has a few disadvantages compared to a conventional refinance mortgage: