Skip to main content

Before you go

You are about to leave Flagstar is not responsible for the content on other sites.

Borrowing and Debt Reduction

Using Home Equity to Pay Off Debt

Navigating a Competitive Housing Market

Find out how to make your equity work to your advantage with home equity solutions from Flagstar Bank.

When you buy a home, your down payment and monthly mortgage payments build equity, the percentage of the home that you own. It’s the home’s current value minus the amount you still owe on it. You can access this equity to pay for major expenses, such as using home equity to pay off debt. Scroll through our infographic to learn about home equity loans and lines of credit. Then, use our Consolidating Debt with Home Equity Calculator to crunch the numbers for your situation to see if you can save with a home equity solution from Flagstar Bank. At Flagstar, a dedicated banker will guide you to the right plan to reduce debt and control your financial future.


Whether you’re curious about using HELOC to pay off credit cards or a home equity loan to pay off debt of other kinds, we’re ready to walk you through all your options. Get in touch with a Flagstar banker today.


Get started

Icon indicating person and branch team member conversing

Visit a branch

We’ll walk you through it. Stop by the nearest branch to open an account in person.

Icon of a phone

Apply over the phone

Call us to open your new account. That’s what we’re here for!

Get started

Icon of a computer monitor and smart phone

Ready to apply online?

Start your loan application here. Don't worry—if you get stuck, we're just a phone call away.  

Icon of a person and a word balloon

Speak with a loan advisor.

We'll help you find the right loan, start your application, and answer your questions.

Icon of a person standing next to a map location symbol

Find a loan advisor.

Connect with a local expert and meet remotely or at a nearby branch. We'll guide you through the entire home loan process.

You may also be interested in:







Programs for qualified borrowers. All borrowers subject to credit approval, underwriting approval and lender terms and conditions. Programs subject to change without notice. Some restrictions may apply. Not a commitment to lend. A loan advisor will review and provide you the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.

Fair lending statement