Homeowners

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Home equity line of credit

A revolving line against your home's equity that you can draw on as needed.

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Photo: GlacierNPS · Public domain · Wikimedia Commons

Who it's for

Homeowners who want flexible access to equity without refinancing their first mortgage.

How it works

  1. You're approved for a credit limit, draw what you need, and pay interest only on what you use.
  2. Rates are usually variable. There's a draw period followed by a repayment period.

What you'll need

  • Equity in your home
  • Income and credit documents

Common questions

HELOC or cash-out refinance?

If your first mortgage rate is low, a HELOC leaves it alone. If you want one fixed payment, a cash-out refinance may fit better. We'll run both.

By design this page shows no rates, APRs, payments, or down-payment percentages. Those figures are only published with the full disclosure block required by Regulation Z.