We were moving 1800 miles across country and worked with Chad Pounders at Lit Financial to broker our mortgage. As difficult as remote home buying can be, the financing was the least stressful by a wide margin and I credit that to Chad and his team at Lit. Communication was always quick and Chad showed a ton of patience as we worked through inventory with our realtor. Chad is knowledgeable and was open and honest about our options as we moved through the process. I highly recommend reaching out to Chad and his team at Lit if you are in… Read more →
Home equity loans. Finding equity right under your own roof.
LitFinancial helps you use your home to finance your loan.
Best for homeowners looking to turn their equity into a cash loan.
No SSN required. Zero impact to credit.
Your information is never sold.
★★★★★Rated 4.9/5 stars
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No Social Security number needed.
No effect on your credit score.
Your details are never shared or sold.
Takes under a minute to finish.
What is a home equity loan?
A home equity loan leverages the value of your home in order to acquire a loan from a lender. You’re essentially borrowing against the value of your home, which is collateral in the loan.
Is this loan right for me?
By paying your mortgage, you slowly own more of your home and therefore own more of the equity in your home. If you need to convert that equity into more liquid financial assets, this loan is right for you.
How can LitFinancial help?
Home equity loans put one of your most prized possessions on the line — your home. While the lump sum you gain from the loan can help you with debts or other needs, you need an expert in your corner to make sure you’re making the right move and understand every aspect of your loan.
Frequently Asked Questions
Let's help make things clearer.
A home equity loan lets you borrow money using the value you’ve built up in your home. You get the money in one lump sum and pay it back with a fixed monthly payment.
Most lenders let you borrow up to 80–90% of your home’s value, minus what you still owe on your mortgage.
A score around 620 or higher usually works. Better credit can help you get a lower rate.
Home equity loans usually have fixed rates, so your payment stays the same every month.
Anything you want—common uses include home improvements, debt consolidation, education costs, or major expenses.
A home equity loan gives you one lump sum with a fixed payment. A HELOC works like a credit line you can use as needed, usually with a variable rate.
Your home is the collateral, so if you stop paying, you could lose your house. Also, if values drop, you could owe more than your home is worth.
Most people get approved and funded in 2–4 weeks, depending on the lender and appraisal process.
Expect fees similar to a small mortgage—often 2–5% of the loan amount. Some lenders offer reduced or no-closing-cost options.
Usually, yes. Lenders need to know your home’s value. Some offer automated valuations with no in-person appraisal.
Payments are fixed and spread over a set term—often 5 to 30 years, depending on the loan.
Sometimes yes, but lenders often limit you to one, or they may offer a second lien if you still have enough equity.
It can be—if the money is used for home improvements. It’s best to confirm with a tax professional.
Get started with our quote tools.
Whether you’re estimating your mortgage costs, seeking to simplify and save through debt consolidation, or aiming to explore and compare various loan options tailored to your needs, our intuitive tools are here to guide you every step of the way.
No SSN required. Zero impact to credit. Your information is never sold.
Why choose LitFinancial?
Experience Matters
When it comes to loan officers, we are experienced experts and take pride in leveraging our knowledge to help you every step of the way.
We Are Your Advocate
Our loan officers are advocates through -out your lending journey. From finding the right mortgage plan, to proactively engaging with key stakeholders on your behalf.
Relentlessly Seeking Solutions
We are committed and passionate about helping borrowers find their best financial fit. We tap our trusted network to look at any and all options.
Lit For Life
Our approach to advising is finding the best solution for each client’s life. We will also be there as your needs change through different life stages.
Advising You Like You’re Family
We are a mortgage partner that takes the time to listen to your needs and goals. We care about each client that tailor our advice for your best outcome.
Leading the Industry
We are constantly modernizing lending models, streamlining treasury operations, and increasing transparency across mortgages. This allows us to bring innovative products and better service to you.
Chris Solinski, Executive Loan Officer
“Nothing is impossible. The word itself says ‘I'm possible!’”
People like LitFinancial
When you love what you do, it shows.
Brandon was incredible to work with throughout my refinance process. He was knowledgable, responsive, and truly went above and beyond to make sure I understood every step. Most importantly, he saved me a significant amount of money. His friendly approachable attitude made what could be a stressful process feel smooth and manageable. Billy, his supervisor was also extremely helpful and supportive. I'm so grateful for their hard word and would highly recommend them to anyone looking to refinance! Read more →
We had an excellent experience working with Chris Solinkski and his team at Lit Financial. He was knowledgeable, professional, and incredibly responsive throughout the entire loan process. His communication was clear, and he kept us updated every step of the way. We truly appreciated how quickly he handled things while still taking the time to answer our questions. We highly recommend Lit Financial and Chris to anyone looking for a seamless lending experience! Read more →
The first call with Keefer was awesome and i immediately felt hopeful that i would get the house of my dreams. Keefer was professional, friendly and very supportive throughout the process. Tiffany and Rima came on board and did a fantastic job together with Keefer. Working with this team has been a great experience that i will never forget about. Keefer held my hand, always giving me updates and encouraged me to keep going and not lose hope, he guided me throughout the process . Rima, Tiffany and Keefer worked so hard for me to get the loan, I’m so… Read more →
We did a refinance on our home, and James Abdallah was very professional, assisting us every step of the way with any information we needed and answering any questions that we had. The entire process was very fast and we felt very comfortable with how knowledgeable he was. He was easy to contact and available at all times for us. We ended up getting the deal that we wanted with a quick turnaround time. A special thanks to Lex and Sue as well for their help as part of the team! I highly recommend working with the Lit Financial team… Read more →