Can You Still Get a Discover Home Equity Loan?

Discover was once a major player in the home equity loan business, but you may have noticed that these products are no longer available to new applicants. The lender also doesn’t accept new applications for its refinance loans, meaning it’s out of the home loan business entirely.

So what does it mean if you already have a Discover home equity loan — or mortgage refinance — and what are your best options if you’re hoping to apply for one?

The real impetus behind Discover’s take on home lending was Capital One’s acquisition of Discover in May 2025. In response to a Tough economy And with changing consumer habits, Capital One chose to end Discover’s home equity loan and mortgage refinance offerings to focus on other areas of its business.

That said, if you have an existing home loan with Discover, you’re not left in limbo — you can continue to access your account and make payments as usual.

Whether you already have a Discover home equity loan — or a mortgage refinance — or are planning to apply for one, the details below explain what this change means for you and what steps, if any, you need to take.

If you have a home equity loan with Discover, you are now a Capital One customer rather than a Discover customer, meaning Capital One monitors and maintains your loan account.

In addition, there are some important servicing changes you should be aware of:

• Discover, from February 2, 2026, no more. Any Home Loan Services. Existing borrowers should receive a communication from the new servicer outlining any service changes.

• The loan servicing portal has also changed. Borrowers now manage accounts and mortgage payments through the updated website URL: yourmortgageonline.com. When you visit the site for the first time, you must register with your 10-digit account number.

Other than these changes, existing Discover home loan customers should see no changes to their loan terms, payments or Discover customer support channels. And if anything changes, Discover says it will notify customers by email or letter.

Unfortunately, if you were all set to apply for a Discover home equity loan – you’re out of luck. Discover is no longer accepting home loan applications from new customers.

Additionally, Discover has not announced a waitlist or plans to reopen applications for new home loan customers, and will not, since Capital One exited the residential mortgage business in 2018.

Discover’s home equity loans earned an overall five-star NerdWallet rating, so it’s understandable if the lender is at the top of your list as well. The good news: There are other lenders that offer the same or similar features and flexibility — and one may be just as strong for your needs.

If you landed on this article because you were hoping to apply for a Discover home equity loan, your next step is to explore our roundup. Top rated home equity loan lenders. There you’ll “discover” alternative lender options with similar home equity loan features to home equity loans, such as higher borrowing limits and different tenure options.

Unlike home equity loans, which give you a lump sum of cash, HELOCs allow you to withdraw as much as you need up to a certain limit, just like a credit card. You can access the line of credit for a set period of time – usually up to 10 years – before entering into a 10 or 20 year repayment period.

HELOCs typically come with an adjustable interest rate for at least part of the loan. If “adjustable rate” gives you pause, it’s possible—though less common—to get one. Fixed rate HELOC. This option protects you from rate hikes and provides predictable repayments throughout the loan tenure. Just be prepared to pay higher interest rates and know that you won’t benefit when rates go down.