Loan option
HELOC Home Loan
A Home Equity Line of Credit (HELOC) gives you a revolving credit line backed by your home equity. Draw funds when you need them, pay interest only on what you use.
What HELOC Home Loan actually is.
A HELOC is a uniquely flexible financial tool. Unlike a cash-out refi, you don't lock in a single lump sum and a new long-term mortgage. Instead, you open a revolving line you can tap whenever the need arises.
During the 10-year draw period, you pay interest only on the funds you've actually borrowed. After draw closes, you enter a repayment period - typically 20 years - and amortize the balance.
HELOCs are perfect for ongoing renovation projects, college tuition spread across years, real estate investors needing fast access to capital, or anyone who values optionality over a fixed structure.
Illustrative sample figures for a template demonstration. Not a rate quote, not an offer to lend, and not live market data.
Who this fits
- Homeowners with significant equity
- Borrowers needing flexible access to capital
- Renovators funding projects over time
- Investors using equity to fund the next purchase
What this program buys you.
- Revolving Credit
- Like a credit card, but secured by your home and at far lower rates.
- Interest-Only Payments
- During the draw period (typically 10 years), pay only interest.
- Use As Needed
- Borrow exactly what you need, when you need it.
- Tax-Deductible
- Interest may be tax-deductible when funds are used for home improvements.
The process
Four moves from first call to keys.
Each step has one job and one owner. You always know which of the four the file is sitting in.
- 01Equity CheckWe confirm available equity (typically up to 85% of home value minus first mortgage).
- 02ApplyStandard income, credit, and property review.
- 03AppraiseOften a desktop or AVM appraisal - fast and inexpensive.
- 04Open LineLine opens at closing; draw via check or transfer anytime.
Questions this program raises.
If yours is not here, ask it. You will get an answer in writing from the officer who would work the file.
Other programs
Get this priced against your own file.
Tell us the scenario and we will come back with real figures for HELOC Home Loan, and for the programs you did not ask about, so you can see all of them at once.
Illustrative sample figures for a template demonstration. Not a rate quote, not an offer to lend, and not live market data.