The best way to borrow money against your home is to get a home equity loan since it can offer a low APR, a large amount of funding and a long repayment period. Home equity loans also come with fixed monthly payments and fixed interest rates. Other options for borrowing money on your home include getting a home equity line of credit (HELOC) or doing a cash-out refinance. A HELOC lets you borrow money as you need it, whereas cash-out refinancing and home equity loans let you borrow a lump sum of money.
These borrowing options allow you to get funds based on your home's equity, which is the value of the home minus the balance left on the mortgage. You will have to use your home as collateral, though, so you risk foreclosure if you don't repay what you borrow.
Also keep in mind that with a home equity loan and home equity line of credit, you're taking out a second mortgage, so your overall monthly payments are going to increase. If you choose cash-out refinancing, you could also end up with a longer loan term than before, which could ultimately end up costing more.
You can compare home equity loans and home equity lines of credit on WalletHub to find the best option for your needs.