Loan program
HELOC
A HELOC is a revolving line of credit secured by your home's equity — similar in structure to a credit card, but typically with a much lower rate because it's secured by real estate. It's commonly used for renovations, debt consolidation, or as a flexible source of funds drawn only as needed.
Good fit for
- Homeowners with built-up equity who want flexible access to funds
- Renovation and home-improvement projects
- Borrowers who want to draw funds over time rather than all at once
Key features
- Revolving credit line
- Borrow, repay, and borrow again up to your credit limit during the draw period, rather than receiving one lump sum.
- Draw period and repayment period
- Most HELOCs have a draw period (often 10 years) followed by a repayment period — your loan officer will walk through how yours is structured.
- Variable rates are common
- Many HELOCs carry a variable interest rate tied to an index, which means your payment can change over time.
- Secured by your home
- Because a HELOC is secured by your property, it's important to understand the terms fully before drawing funds.
Common questions
How much can I borrow with a HELOC?
It depends on your home's current value, your existing mortgage balance, and the lender's combined loan-to-value guidelines — our home equity snapshot tool can give you a first-pass estimate.
Is a HELOC the same as a home equity loan?
No. A home equity loan is a one-time lump sum with a fixed rate; a HELOC is a revolving line you draw from as needed.
Talk through heloc with a licensed loan officer
Get a straight answer on whether this program fits your situation. A consultation is free and carries no obligation.
Educational overview only. Nothing on this page is a rate quote, an eligibility determination, or a commitment to lend. See Licensing & Disclosures for current licensing. Equal Housing Opportunity.