By: Aaron Eller

April 4, 2025

How to Access the Equity in Your Home

If you are looking to gain the equity in your home, this article will explain your options, our recommendations and go over step by step how to access your hard earned money. No matter your situation, whether your facing foreclosure, divorce, dealing with an inherited house, or just want to cash out and move on, our team at Cash Offer Man has the experience and resources to help you at. For more in depth details give our team a call at 314-912-4939.

Cash Offer Man is a local home buying company in Missouri. We buy houses in any and all condition, shapes and sizes. If you got a house, we will give you an offer. Our team and partners have decades of experience and have bought and sold over 1,000 properties right here in Missouri.

What is Equity?

Equity is the difference between what your home is currently worth and what you still owe on it from a mortgage and/or liens.

Let’s say your house is worth $200,000, and you owe $120,000 on your mortgage. That would give you $80,000 in equity. Make sure you are all caught up on your utility bills and property taxes so those don’t cut into your equity amount. If you have an outstanding lien, that amount would be subtracted from your equity.

Equity builds up over time as:

• You pay down your mortgage
• Your home increases in value
• You make improvements that add value

Many people don’t even realize they’re sitting on tens of thousands of dollars in equity — especially in markets like St. Louis where property values have risen over the last several years.

How to Find Your Equity Value

To figure out how much equity you have, you’ll need two numbers:

1. The current market value of your home in its current condition
2. The sum of your remaining mortgage balance and any outstanding liens

Step 1: Find Your Home’s Market Value

You want to have a Comparative Market Analysis (CMA) done on your home. At Cash Offer Man, We give home owners a free CMA. Fill out the form at the top of the page and our team will get back to you with a complete CMA, letting you know your houses exact value. If your doing it yourself, this is what we recommend:

• Looking at recent sales of comparable homes in your area, (the similar the better)
• Using online tools like Zillow or Redfin (though these can be off, but give a good general area of an amount)
• Asking a local real estate agent or home buying company like us for a free cash offer based on current market conditions

Step 2: Check Your Mortgage Payoff Amount

This isn’t just your loan balance — it’s the total amount required to fully pay off your mortgage, including interest and any fees. You can request this payoff amount from your lender. Another thing to remember is that your monthly payment is not adding all to your equity, with your monthly payment you are paying Principal, Interest, Taxes, Insurance. Only the Principal amount of your monthly payment makes your equity grow. This is why people favor lower interest rates.

Example:

• Home value: $250,000
• Mortgage payoff: $170,000
• Equity: $80,000

This $80,000 is what you could potentially walk away with, depending on how you choose to access it.

When Should You Access Your Equity?

There are many situations and conditions where people need to access the equity in their home. These are the most common occurrences but everyone’s situation is different.

1. You Need to Sell Your House Fast

If you’re facing foreclosure, going through a divorce, or dealing with a job relocation, unlocking your equity quickly can help you get the money you need and speed up the process. A Cash Offer is generally advised to sell your home fast in as little as 15 days.

2. You Inherited a House

If you’ve inherited a property and don’t want the responsibility of maintaining it or paying the property taxes, accessing the equity is usually considered. Get a CMA done on the home to find out how much equity you can get from a sale. Make sure you have the right to sell the property, in some cases probate must be done before the property can be sold if inherited.

3. You’re Struggling Financially

Sometimes life hits hard — job loss, medical bills, or credit card debt. Using your equity can give you the financial breathing room you need. If your equity is a large amount, getting a check for tens of thousands of dollars can change your entire situation.

4. You Want to Downsize or Move

Maybe you don’t need a big house anymore. Selling and using your equity can help you start fresh in a home that better fits your needs. It is very common for home owners to use their equity in the house they are selling to put a larger down payment on a new home they buy.

Ways to Get Your Equity

There are several ways to get the equity in your home. There’s no right or wrong way to go about getting your equity, it all depends on your current situation and what your goals are.

1. Home Equity Loan

This is a second loan on your house. You borrow against your equity and receive a lump sum. It usually has a fixed interest rate and monthly payments.

Pros:

• Lump sum payout
• Fixed interest rate
• Get to stay in your home without selling

Cons:

• You’re taking on more debt
• You must qualify based on credit/income
• Risk of foreclosure if you can’t pay it back
• Will not be able to access all of the equity, most loans max at 70-80% of Fair Market Value.

2. Home Equity Line of Credit (HELOC)

This works like a credit card. You’re approved for a limit based on your equity, and you can draw from it as needed. This works well when the amount of money you need changes over time.

Pros:

• Flexibility
• Only pay interest on what you use
• Can take the money on your terms

Cons:

• Variable interest rates
• Can be frozen by the lender
• Still tied to your home — missed payments = foreclosure

3. Cash-Out Refinance

You refinance your current mortgage for a higher amount and take the difference in cash. This is advised when you have a higher interest rate on your current mortgage and can get a lower interest rate.

Pros:

• Lower interest rates (sometimes)
• Access to large amounts of cash
• Can make your payment lower in certain situations

Cons:

• You restart your loan
• Closing costs
• Takes time — not a fast process
• can increase your payment in certain situations

4. Sell Your House for Cash

This is the fastest and most straightforward way to access your equity. When you sell your house for cash, you don’t have to worry about repairs, showings, or realtor commissions. You walk away with the equity as fast as you like. You also get access to the full equity, with banks and loans, they will cap your loan or line of credit at 70-80% of your homes value. When you sell your home you get to keep everything minus closing costs, but those can be negotiated in the sale as well.

At Cash Offer Man, we buy houses as-is, pay cash, and close on your timeline —We also have no fees, commissions, or closing costs.

Pros:

• Fast cash
• No fees or commissions
• No repairs or cleaning
• Avoid foreclosure, probate, or other legal hassles

Cons:

• You no longer own the house (which is often the goal!)

Which Way Is Right for You?

Here’s a quick breakdown depending on your situation:

Every homeowner’s situation is different. At Cash Offer Man, we’ll walk you through your options and even let you compare our offer with others — no pressure, no obligation.

Selling Your House: How We Can Help

If you’re thinking, “I want to sell my house fast in St. Louis,” you’re in the right place.

Here’s what it looks like to work with Cash Offer Man:

1. Reach out — Call or fill out our form for a free consultation
2. We evaluate your home and make a fair cash offer
3. You choose the closing date — as fast or as slow as you need
4. You get paid — no fees, no commissions, just cash in your hand

We help people every day who want to:

• Sell their house without a realtor
• Sell an inherited property
• Stop foreclosure
• Sell a house during a divorce
• Avoid making repairs or updates
• Get a cash offer on their house in St. Louis

Why Work with a Local Home Buying Company?

Unlike big nationwide companies, we’re based right here in Missouri. We know the St. Louis market, we understand local property values, and we genuinely care about our community.

People choose Cash Offer Man because:

• We’re fast, fair, and local
• We buy houses in any condition
• We’re the best home buyers in St. Louis for a reason
• We give you options, not pressure

Final Thoughts: Turn Your Equity Into Cash

Whether you want to stay in your home or sell it, you’ve got options when it comes to tapping into your home equity. If you’re looking to sell your house fast, without a realtor, and walk away with cash — Cash Offer Man is here to help.

We’re one of the top St. Louis cash home buyers, and we make the process simple, stress-free, and on your terms.

Ready to find out how much equity you can walk away with?
👉 Contact us today for your free, no-obligation cash offer.

Missouri Home Buyers

We buy houses in Missouri, Springfield, Jennings, Columbia, Hannibal, Troy, St. Charles, Hazelwood, Florissant, Bridgeton, Oakville, Afton, and Arnold just to name a few. If you have a house located in Missouri and want to get an offer, fill out the form below and our team will get you an offer right away!