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HOME EQUITY LINE OF CREDIT (HELOC)
Unlock the equity
in your home.
Access Your Equity
Tap into your home's value when you need it.
Revolving Credit
Borrow, repay, and reuse as needed.
Lower Rates
Typically lower rates than credit cards and personal loans.
Flexible Terms
Choose the payment options that work best for you.
WHY CHOOSE A HELOC?
Leverage Your Home
Turn your home equity into financial power.
Fast & Easy Process
Quick approvals so you can move forward with confidence.
Flexible Borrowing
Use what you need, when you need it.
Competitive Rates
Enjoy lower rates compared to unsecured loans.
Build Your Future
Invest in opportunities that grow your wealth.
How It Works
The purpose of a Home Equity Line of Credit (HELOC) is to let you borrow money using your house value as a flexible, revolving credit line for large expenses like home repairs, debt consolidation, or tuition.
Loan Amount
A HELOC (Home Equity Line of Credit) loan amount is usually calculated by taking 80% to 85% of your home's appraised value and subtracting your current mortgage balance. Lenders also set absolute minimum and maximum dollar caps—frequently ranging from a minimum of $10,000 up to a maximum limit of $1,000,000.
Loan Formats
A Home Equity Line of Credit (HELOC) is generally structured into two format types based on interest rates: variable-rate HELOCs and fixed-rate HELOC options.
Terms
The usual total term of a Home Equity Line of Credit (HELOC) is 20 to 30 years, split into a 10-year draw period followed by a 10- to 20-year repayment period.
Credit Score
No minimum
Revenue
Reliable income or revenue is normally required to get a HELOC, though rare specialty products like asset-depletion or no-income asset-based loans exist. Standard approval requires proving you can repay the credit line using personal wages, business revenue, or retirement funds.
Time In Business
Not required
Ready to Move Forward?
The HELOC can be used as needed during your draw period, which is the timeframe between opening it, up until your repayment begins. You only pay interest on what you borrow from your HELOC.