You've Worked Hard to Build Equity in Your Home. That Equity Should Work Hard For You. If you own a home, using the equity you have built up may be one of the most cost-effective ways to lower your borrowing costs. In many cases, home equity products can offer you a lower interest rate as compared to other types of loans while providing you with access to credit for unexpected expenses or home improvement projects. It's yours to use however you wish! You may be able to borrow against the equity in your home to finance other needs such as a home renovation, debt consolidation, college tuition and more. You can generally borrow up to 80% of the appraised value of your house, and up to 95% if you insure the mortgage against default.