Kitchens & Baths
Cabinets, countertops, tile and fixtures. Draw funds as each stage of the remodel is finished.
Home equity line of credit
HELOC for Home Improvement
Use your home's equity to fund the kitchen, bath or addition you've been planning, and keep the first mortgage you already have. LuxeRates shops your HELOC across multiple lenders.
- Keep your first mortgage
- Draw funds as you need them
- Multiple lenders, one broker
- Licensed in CA · FL · NY · TN · TX
Who we are
A licensed broker that shops your HELOC across multiple lenders.
LuxeRates, LLC is a mortgage brokerage. Instead of offering a single bank's program, we compare home equity options from a network of third-party lenders and help you choose the one that fits your project.
A HELOC lets you tap the equity you've built without touching your first mortgage, which matters if you already have a mortgage you want to keep.
You get one point of contact from your first question to closing.
What you can fund
Home improvement projects, big and small.
Additions & Outdoor Living
Add square footage, finish a basement, or build the deck and patio you've been sketching out.
Roofs & Major Repairs
Roof replacements, windows and energy upgrades that protect your home and its value.
How it works
From project plan to funded, in three steps.
One conversation, multiple lenders, and funds that follow your project timeline.
Tell us about your project
Share your plans and a few details about your home. It takes about a minute.
We compare lenders
We shop HELOC options across our lender network so you don't have to call bank after bank.
Draw as you build
Once approved, draw from your line of credit as contractor invoices come due.
HELOC vs. other ways to pay for a remodel
| HELOC | Cash-out refinance | Credit cards | |
|---|---|---|---|
| Keeps your first mortgage | Yes | No, replaces it | Yes |
| Borrow as you go | Yes, during the draw period | No, one lump sum | Yes |
| Secured by your home | Yes | Yes | No |
| Typical cost of borrowing | Usually lower than cards | Depends on today's rates | Usually the highest |
FAQ
Home improvement HELOC questions, answered.
How does a HELOC work for home improvement?+–
A home equity line of credit lets you borrow against the equity in your home. During the draw period you can take funds as you need them, so you can pay contractors as each stage of the project is finished instead of borrowing everything up front.
Do I have to refinance my current mortgage?+–
No. A HELOC is a separate line of credit that sits behind your existing mortgage, so your first mortgage and its rate stay exactly as they are.
HELOC or cash-out refinance: which is better for a remodel?+–
A cash-out refinance replaces your whole mortgage with a new, larger one. A HELOC leaves your first mortgage alone. If you already have a mortgage you want to keep, a HELOC is often the better fit. We'll compare both for your situation.
What can I use the funds for?+–
Kitchen and bathroom remodels, additions, roof replacements, outdoor living spaces and other upgrades. Whether a HELOC is the right fit depends on your equity, credit and the size of the project.
Why work with a broker instead of my bank?+–
Your bank can offer only its own HELOC. As a broker, LuxeRates compares options from multiple lenders so you can see more than one offer before you decide.
Which states do you lend in?+–
LuxeRates is licensed in California, Florida, New York, Tennessee and Texas.
Get started
Get your HELOC quote.
Tell us where the property is and a licensed broker will follow up with HELOC options from multiple lenders. All inquiries are kept confidential.
- 877-409-LUXE (5893)
- LuxeRates, LLC · NMLS# 2429343
- Licensed in CA, FL, NY, TN & TX
Let's talk
Free, no-obligation quote. Four quick fields.