Refinance & Equity
HELOC
A line of credit against your home's equity that you draw from when you need it.
What it is
A home equity line of credit is a revolving line, like a credit card secured by your home. You can draw, repay and draw again during the draw period.
Who it's great for
- Homeowners with a low first-mortgage rate
- Ongoing projects
- A financial safety net
Key features
- Keep your current first mortgage
- Borrow only what you need
- Interest-only draw periods available
General requirements
- Equity in your home
- Credit and income documentation
- Variable rate on most lines
General guidelines only. Every loan is subject to credit approval, underwriting and property review. Not a commitment to lend.
Common Questions
Is the rate fixed?
Most HELOCs are variable. Some allow fixed-rate portions.
Do I have to use it?
No. You only pay interest on what you draw.
How fast can I get one?
Often a few weeks.
Can I have a HELOC and keep my mortgage?
Yes. That's the main advantage.
Is a HELOC Right for You?
Let's talk about your situation. Honest answers, no pressure.
NMLS #172296 | Licensed in Colorado