HELOC
A revolving line of credit against your home’s equity that you draw on as you need it, and only pay interest on what you use. Flexible by design, and a smart alternative to a full refinance when your first-mortgage rate is already good.
Is this you?
How it works
A HELOC sits behind your first mortgage. You’re approved for a limit and can draw, repay, and draw again during the draw period.
Interest accrues only on the outstanding balance, ideal for projects that unfold over time.
If your primary rate is great, a HELOC reaches your equity without refinancing the whole thing.
What you’ll bring
A starting list, not a final one, every file is a little different, and we’ll tell you exactly what yours needs.
Common questions
A HELOC is a second, revolving line that leaves your first mortgage in place; a cash-out replaces it with a larger loan. We’ll compare both for your situation.
Most HELOCs are variable, though some offer fixed-rate draw options. We’ll explain how the payment can change.
It depends on your equity and the lender’s combined loan-to-value cap. We’ll calculate your likely limit.
Keep exploring
Take equity as a lump sum in one new loan.
Learn moreReshape your first mortgage instead.
Learn moreThe first-mortgage foundation a HELOC sits behind.
Learn moreThis page is informational and not a commitment to lend or a guarantee of any rate or term. All loans are subject to credit approval and program guidelines; not all applicants will qualify.
Get started
One conversation tells us whether this is your best move, or whether something else fits better. No pressure either way.
