Tap your equity without giving up your rate.
A HELOC lets you borrow against your home's equity without touching your first mortgage. Keep the low rate you locked in, draw funds when you need them, and pay interest only on what you use.
Why a HELOC makes sense right now
If you locked a mortgage rate in the 3s or 4s, giving it up to access equity is a costly mistake. A HELOC sits in second position behind your first mortgage — your first rate, payment, and balance stay exactly the same.
You're approved for a credit limit, draw from it when you need it, and only pay interest on what you've actually used. Pay it down and the credit becomes available again — it's a revolving line, not a one-time loan.
- Borrow against your home equity without touching your first mortgage rate
- Lines up to $500,000 — sometimes higher for strong borrowers
- Interest-only payments during the draw period (typically 10 years)
- Funds available in as little as 2–3 weeks
- Use for renovations, debt consolidation, investment properties, tuition, or business capital
HELOC FAQ
What is a HELOC?+
A Home Equity Line of Credit is a revolving line secured by your home's equity. You're approved for a maximum credit limit, draw from it as needed during the draw period (usually 10 years), and pay interest only on what you've used. After the draw period ends, the line converts to a fully amortizing repayment period (usually 20 years).
HELOC vs. cash-out refinance — which is better?+
If you have a low rate on your first mortgage (anything in the 3s, 4s, or low 5s), a HELOC almost always wins — you keep your first mortgage in place and only borrow what you need. A cash-out refi makes sense when current rates are at or below your existing rate, or when you need to pull a very large amount of equity.
How much can I borrow?+
Most lenders cap combined loan-to-value (CLTV) at 80–90%. So if your home is worth $800,000 and you owe $400,000 on your first mortgage, you could likely qualify for a HELOC of $240,000–$320,000 depending on the lender and your credit.
What are HELOC rates?+
HELOCs are typically variable, tied to the Prime Rate plus a margin based on your credit and CLTV. Some lenders offer fixed-rate lock options for portions of the balance. We shop multiple HELOC investors to find the best margin for your scenario.
Can I get a HELOC on an investment property?+
Yes, though fewer lenders offer them and the rates are higher than on a primary residence. We work with portfolio lenders that do HELOCs on investment properties up to 70–75% CLTV.
How long does a HELOC take to close?+
Most HELOCs close in 2–4 weeks — faster than a traditional refinance because the underwriting is lighter and the appraisal is often a desktop valuation rather than a full interior inspection.
Ready to put your equity to work?
We'll quote your HELOC across multiple investors and send a written offer within one business day.