Kansas City · Kansas & Missouri

Home equity loans & HELOCs in Kansas City.

Put your equity toward a plan that makes sense for you.

A fixed-rate home equity loan gives you money upfront. A home equity line of credit, or HELOC, gives you access to funds you can borrow and repay during its draw period. Both let you borrow against your home.

I'm Mike Baker, owner of The Rate Shop. I'll help you compare these options with a cash-out refinance, starting with your goal, your current mortgage and the monthly payment you're comfortable with.

Schedule a call with Mike

Your initial review is free, with no upfront charge. Prefer to call or text? Reach me at 913-213-3335.

Hi, I'm Mike.I've been originating mortgages since 2009. You'll work directly with me from our first conversation through closing. I'm available nights and weekends when questions come up.

Compare your options

Keep your first mortgage, or replace it?

Your existing rate and remaining term matter. A separate home equity loan or second-position HELOC can leave that mortgage in place. A cash-out refinance replaces it. We'll compare the full borrowing plan, including costs, payments and time to repay.

Three ways to access equity. Actual terms depend on the loan.
Fixed-rate home equity loan	Second-position HELOC	Cash-out refinance
Receive a lump sum and repay it over a set term.	Draw funds as needed, up to your available limit during the draw period. Repaying principal can make funds available again, subject to the agreement.	Replace your mortgage with a larger loan and receive the available cash after payoffs and costs.
Fixed interest rate and scheduled principal-and-interest payment.	Usually a variable rate. Payments can change with the rate, balance and repayment stage.	A new rate and term apply to the entire replacement mortgage.
Worth comparing for a defined expense and payment certainty.	Worth comparing for phased expenses or repeated access to funds.	Worth comparing when changing the first mortgage may improve the overall plan.

Explore the numbers with the home equity loan and HELOC comparison or the home equity versus cash-out refinance calculator.

Start with the purpose

What do you want the money to do?

Pay for a remodel

A signed contract and a defined price may fit a fixed-rate loan. If work happens in stages or the scope may change, a HELOC may offer useful flexibility.

We'll discuss when the bills arrive, how much cushion you need and whether a payment that can change fits your budget.

Wondering how your project could affect your home’s value? Request a free local renovation-value review with a Kansas City Realtor.

Consolidate higher-interest debt

We'll compare the current balances, rates and payments with the proposed loan, including closing costs and total interest.

Then I'll ask: What would the payment be if we kept the same payoff timeline? That helps separate a lower rate from simply taking longer to repay.

What to consider before paying off credit cards with equity

Mike says

Moving debt doesn't erase it. If we pay off credit cards, we also need a plan to keep those balances from building back up. Otherwise, you could end up with the cards and another loan secured by your home.

Thinking about an investment property or a business? We'll discuss the payment and payoff plan, including how you'd cover the loan if the investment doesn't produce the income you expect.

Home equity borrowing uses your home as collateral. If you cannot repay, you could lose your home.

A free review with Mike

From your first questions to a clear comparison.

01 · YOUR GOALS

Tell me what you need.

We'll discuss the purpose, amount, timing and monthly budget. You don't need to know which loan you want before calling.

02 · YOUR EQUITY

Start with your home's value.

Using your address, I can pull a Property 360 value report at no cost to you. It's a starting estimate, not a lender appraisal or a guaranteed borrowing amount.

03 · YOUR OPTIONS

See the costs and payments.

Afterward, I'll provide a breakdown of the options we discussed, their pros and cons, estimated costs and payments. You'll receive a fees worksheet or Loan Estimate, as appropriate for the loan.

What should you have handy?

Your mortgage statement, showing your balance, rate and payment breakdown, plus an idea of the remaining term.
Your property address and the amount you want to access.
A basic remodel budget, or a list of debts with estimated balances, rates and monthly payments.
The monthly budget you want to stay within.

Another option we can discuss

What is Wealth Builder?

Wealth Builder is a first-position HELOC that combines home financing with checking-account features. Deposited income reduces the outstanding balance, while withdrawals increase it.

For homeowners with strong, consistent surplus cash flow, it may help accelerate repayment. It replaces the first mortgage rather than sitting behind it, so we'll compare it carefully with the loan you have.

I offer Wealth Builder, fixed-rate home equity loans and HELOCs in both Kansas and Missouri.

Common questions

What should you know before borrowing?

You can start exploring with the home equity loan calculator. Bring your estimate to our conversation so we can check the assumptions together.

How much home equity can I borrow?

Equity is your home's value minus the mortgages secured by it. That doesn't mean all of it is available to borrow. The lender's accepted value, existing liens, credit, income and loan requirements determine the available amount. We'll also look at what payment actually fits your budget.

Will I need a full appraisal?

Many times, no full appraisal is needed. It depends on the lender, property and loan. I'll explain the valuation required for your option and any associated cost before you decide to proceed.

What are the closing costs?

Costs vary by lender and product. We'll review the estimated loan, title and valuation costs, along with any ongoing or early-closure fees that apply. The initial review and Property 360 report are free. That does not mean the loan itself has no fees.

Can my HELOC payment go up?

Yes. A variable rate, a larger balance or the move from the draw period into repayment can increase the payment. We'll look beyond the starting payment and discuss how a higher payment would fit your budget.

See what can happen when the HELOC draw period ends

Conversations are free.

Let's see what your equity could help you do.

Schedule a call so we have time to talk through your goals, mortgage and questions. I'll help you understand the options before you decide what comes next.