| Focus | A homeowner decision |
| Review | Lender requirements apply |
Identify the stage in your own agreement
Find the date when borrowing access ends and the section explaining payments afterward. Do not rely on the product name or the payment shown on an advertisement. Ask whether your agreement calls for scheduled principal repayment, a balance due at once, or another arrangement. The CFPB describes different repayment structures, so a sample from another lender is not enough to establish your own obligation.
Change one assumption at a time
Our educational model allows an interest-only period followed by amortization. Start with your assumed drawn balance and rate, then change the repayment months while holding the other figures constant. Next test a different rate. This shows which assumption drives the change. The model does not include new borrowing during the modeled period and is not a forecast of future rates.
Prepare before the transition
Ask your current lender for the expected payment under your actual agreement. If you want to discuss a new loan, keep that separate from a servicing request. Stonehaven can review a HELOC refinancing inquiry, but a new application is subject to underwriting and does not automatically extend an existing line. Avoid delaying a conversation until a payment is already due.
Prepare the next conversation
Use the home equity planning worksheet to organize your assumptions. Leave anything you do not know blank for discussion. The worksheet does not check eligibility or obtain a lender offer. You can request a broker conversation when you are ready to review your estimated home value, mortgage balance, and requested amount. Do not send account numbers or financial documents through a public inquiry form.
Read the source guidance. Provider examples describe that provider only. This guide is educational. A home-secured loan puts the property at risk if repayment fails. Program availability, documentation, costs, and approval depend on the lender and your circumstances.