Key Takeaways Technically, you can use home equity financing to pay off a home loan, but that's often counterproductive. The only ways to access home equity are to sell your home or take out new financing, which comes at a cost. The nearly 50% rise in home values over the past six years—from $243,398 in December 2019 to$357,275 in December 2025—has helped many homeowners enjoy a surge in home equity. This additional value could potentially help you pay down debt or pay for repairs or renovations. H ...