Quick Answer: You can access your home equity through a home equity loan or HELOC to fund home renovations, pay off debt, or invest in your future — all while staying in your home.

Your home has been the backdrop of countless family memories—from first steps to birthday parties and quiet nights in. Now, it could also be a financial tool to support what’s next for your family. Whether you’re planning college expenses or a much-needed renovation, learning how to access home equity can help you reach your goals.

What Exactly is Home Equity?

Think of home equity as the portion of your home you truly own. It’s calculated by subtracting what you still owe on your mortgage from your home’s current value. For example, if your home is worth $300,000 and you owe $200,000, you’ve got $100,000 in equity. It’s simple as that.

Simple Ways to Grow Your Home Equity Faster

Even if you’re already making regular mortgage payments, there are smart ways to grow your equity faster:

• Pay extra toward your loan’s principal whenever possible.
• Stay in your home longer — property values often rise over time.
• Make strategic home improvements. Renovating kitchens, bathrooms, or enhancing curb appeal can increase value. Get your free download at the bottom of our HELOC page: Home Upgrades that Boost ROI.

How to Access Home Equity in Las Vegas

If you’re ready to unlock your equity, here are two popular and practical ways:

1. Home Equity Loan
   Need a lump sum? A home equity loan gives you just that — with fixed monthly payments and a steady interest rate. It’s perfect for big expenses like remodeling projects or paying off higher-interest debt.
2. Home Equity Line of Credit (HELOC)
   Want more flexibility? A HELOC works like a credit card with a borrowing limit based on your equity. You use what you need, pay interest only on that amount, and replenish your available credit as you repay.

Credit score matters. While a score of 620 may qualify you, higher scores can secure lower interest rates — saving you more in the long run.

To help you make an informed decision, read our blog about HELOC vs. Home Equity Loan.

Let CCCU Help You Unlock Your Home’s Value

You’ve worked hard to build equity in your home — now let it work for you. If you have questions or are ready to take the next step, contact CCCU at 702-228-2228 or visit www.CCCULV.org. Our local team of experienced professionals are here to help you navigate your options and use your home equity with confidence.