HELOC

Who it's for

• Homeowners with meaningful equity in their home
• Homeowners planning renovations in stages
• Borrowers who want flexible access to funds over time, not one lump sum
• Homeowners who like their current mortgage rate and don't want to replace it

Key benefits

• Keep your existing mortgage and its rate — the HELOC sits alongside it
• Draw only what you need, when you need it, during the draw period
• Interest is typically charged only on the amount you've drawn
• Revolving — as you repay, the credit becomes available again during the draw period
• Useful for renovations, major expenses, or other goals, on your timeline

How it works

1. Equity check — we review your home's value, your current mortgage balance, and how much equity is available.
2. Comparison — we compare HELOC options across lenders and explain draw and repayment terms, and how a variable rate works.
3. Application — we help you submit the application and the documents lenders ask for.
4. Draw & repay — once approved, you draw funds as needed during the draw period and repay under the line's terms.

What lenders typically look for

• Equity in the home — lenders set a maximum combined loan-to-value
• Credit and income review under the lender's guidelines
• Home valuation or appraisal
• Variable interest rate — the rate can change over the life of the line, so payments can change too
• A draw period (commonly 10 years) followed by a repayment period — we'll explain both before you commit

HELOC vs. cash-out refinance is a real choice: a HELOC keeps your current mortgage; a cash-out refinance replaces it with a new, larger loan. We'll compare both for you.

Not sure it fits?

That's normal — and it's exactly what a broker is for. Tell us your scenario and we'll point you to the right starting point, even if it's a different program.

Check My Options →

Other loan programs

• Conventional Loan
• FHA Loan
• VA Loan
• Stated Income / Non-QM Loan
• Hard Money Loan
• Refinancing