Tap into your home's equity with a flexible revolving line of credit.
$25K – $500K
Loan Amount
7% – 11%
Typical APR
10-year draw + 20-year repayment
Loan Term
21 – 45 days
Funding Time
A Home Equity Line of Credit (HELOC) lets homeowners borrow against the equity built in their property. Like a credit card, you draw from it as needed and pay interest only on what you use. It is one of the lowest-cost ways to access large amounts of capital for homeowners with significant equity.
Minimum Credit Score
640+
Home Renovations
Fund kitchen remodels, bathroom upgrades, additions, and landscaping
Debt Consolidation
Pay off high-interest credit cards and personal loans at a lower rate
Education Costs
Fund college tuition, continuing education, or professional certifications
Emergency Fund
Keep a safety net available for unexpected major expenses
Investment Property
Use equity to fund the down payment on a rental or investment property
Business Investment
Invest in a business opportunity or franchise using home equity
From application to funding — here is exactly what to expect when applying for a HELOC.
Lender orders a home appraisal to determine your property value and available equity.
Receive your approved HELOC limit — typically up to 85% of your home value minus your mortgage balance.
Use the credit line for any purpose during the draw period (usually 10 years). Pay interest only on draws.
After the draw period ends, repay principal and interest over a 20-year period.
Min. Credit Score
640+
Home Equity
15%+ equity required
LTV
Up to 85% combined
Debt-to-Income
Below 43%
Employment
Stable income required
Property Type
Primary or second home
Advantages
Very low interest rates compared to personal loans
Only pay interest on what you draw
Large credit limits based on home equity
Interest may be tax deductible for home improvements
Considerations
Your home is used as collateral — risk of foreclosure
Variable rate can increase during repayment
Reduces home equity available for other purposes
Submit your application in under 10 minutes and get matched with top lenders offering competitive rates tailored to your profile.