Homeowners Have Several Options to Access Equity, But Each Carries Risks and Rewards

Home equity loans, HELOCs, reverse mortgages, and cash-out refinancing allow homeowners to tap into their home equity.
The options provide affordable borrowing and tax benefits but put the home at risk.
Home equity loans and HELOCs are good for debt consolidation and home improvements, while reverse mortgages and cash-out refinancing help those who can't get traditional mortgages.
Personal loans are unsecured but often have higher interest rates and lower borrowing limits.
The best choice depends on an individual's needs, equity, credit, and willingness to leverage the home.