A Home Equity Line of Credit (HELOC) is a revolving line of credit that lets you borrow against your home's equity. Think of it like a credit card secured by your home:

Your home equity is value you already own. A HELOC lets you use part of it at a fraction of what credit cards or personal loans usually cost. Ready to get started? Tap Move Forward below.

• Draw period: Access funds as needed (5 years for 30-year term, 4 years for 20-year term)
• Repayment period: Pay back what you borrowed (25 years for 30-year term, 16 years for 20-year term)
• Interest only on what you use: If you only use $50k of a $100k line, you only pay interest on $50k
• No annual fee: Pay nothing if you don't use it

Payment details: After your draw period ends, your monthly payment will automatically adjust to your remaining balance at that time. But here's the important part: the payment shown is an estimate; confirm the payment structure and any caps with your loan officer.
Note: This payment guarantee applies to fixed-rate options only. Variable rate payments may adjust with market conditions.

Example: You lock in a $1,500/mo payment. During year 5, you've paid down to $100,000 balance. Your new amortized payment automatically recalculates. Your payment is designed not to go above the amount you selected; confirm the exact structure with your loan officer.

The origination fee is a one-time upfront cost that covers all services involved in processing your HELOC. Think of it as paying for a better rate upfront:

• Higher fee (4.99%): Lowest monthly rate - best if you plan to keep the loan long-term
• Middle fee (2.99%): Balanced option - moderate upfront cost with a good rate
• Lower fee (1.50%): Higher rate but less upfront - good if you plan to pay off quickly

No annual fee. No prepayment penalty. Pay it off anytime without extra charges.

Tip: Choose based on how long you plan to keep the HELOC. The longer you keep it, the more a lower rate saves you.

Closing Costs Breakdown:

• Origination fee: 1.5%, 2.99%, or 4.99% (financed into your payment - NOT deducted from loan amount, NOT paid out of pocket)
• Third-party fees: Title, appraisal, and county recording fees are paid directly to third parties and are not part of our fees

What You See = What You Get: The "Cash in Your Pocket" number is the NET amount that will hit your bank account. It already includes the origination fee financing and all closing costs. You're looking at the actual liquidity you'll have.

County Recording Fees: Some counties charge a recording fee ($200–$500) to register the HELOC. You'll see this exact fee at application, and it's not one of our fees, it's a government charge specific to your county.

The Origination Fee is Financed: Whether you choose the lower fee (lower rate) or higher fee (lower monthly payment), that origination fee is built into your payment over the life of the loan. You're not writing a check at closing.

Speed to Funding: In most cases, 5 business days from application to funds in your account.

What We DON'T Require:

• ✓ Appraisal waivers may be available depending on the property and loan amount
• ✓ No formal title search (we do title verification, not full search)

What Might Slow Us Down:

• Revocable trusts on the title - we accept them, but it adds 2-3 days for legal review
• Non-standard LLCs - we accept LLCs, but complex ownership structures require extra verification

Electronic Closing: Most states support e-signature for final docs. We'll confirm your state during application.

Note: We accept homes held in revocable trusts and in LLCs without prepay penalties, but trust/LLC structures may add 2-3 days to closing.

Yes! Absolutely no prepayment penalties on any of our HELOC products. Here's how payoff works for each option:

Variable Rate HELOC (Interest-Only Draw)

• During the draw period, minimum payments cover interest only
• You can pay down principal at any time - every extra dollar reduces your balance
• As you pay it down, you can re-borrow up to your credit limit
• After the draw period ends, payments convert to principal + interest

Fixed or Variable Rate HELOC (Principal + Interest)

• Every monthly payment includes both principal and interest
• Your balance goes down from day one - no surprises
• Pay extra anytime to accelerate payoff with zero penalty
• Predictable payoff timeline built into your term

10-Year Interest-Only Option

• Minimum payments are interest-only for up to 10 years
• Maximum flexibility - pay only interest when cash flow is tight
• Make principal payments whenever you choose
• Ideal for investment strategies or managing variable income

No annual fee either. If you don't use it, you don't pay anything. This flexibility makes HELOCs perfect for both short-term needs and long-term financial strategies.

Often, yes! HELOC interest may be tax deductible when used for:

• Home improvements and renovations
• Buying or building your primary residence
• Significant repairs that add value

Not deductible when used for:

• Personal expenses (vacations, cars, etc.)
• Debt consolidation (unless used to substantially improve the home)

Consult your tax advisor for your specific situation. We can provide the 1098 form showing interest paid.

It depends on the option you select:

• Fixed-Rate HELOC: Your rate and payment are locked for the life of the loan, so changes in market rates don't affect what you pay.
• Variable-Rate HELOC: If you choose a variable option, your rate adjusts with the market (typically Prime Rate), so your payment may go up or down.

How long this quote is good for

Your quoted rate is held for the period shown on this quote. If it expires before you decide, your loan officer can refresh it. There is no penalty for taking the time you need.

Refinance Anytime: If rates drop in the future, you can always refinance with your loan officer for a lower rate - no need to shop around. No prepayment penalty means you're never locked in.

We've simplified the process! Most borrowers only need:

• ✅ Valid Driver's License (current, unexpired)
• ✅ Trust Documents (only if your property is held in a trust - we'll need the trust certificate and whether it's revocable or irrevocable)

That's it! No bank statements. No pay stubs. No tax returns.

How do we verify income? We use Plaid - the same bank-level secure system trusted by Venmo, Experian Boost, and thousands of financial apps. You securely connect your bank account, we verify your income instantly. You control what's shared, and it's encrypted end-to-end.

Self-employed? Plaid works great for you too! It reads your business bank deposits to verify income - no complicated tax returns needed.

Unlike most lenders, we don't ask for bank statements. Plaid is faster, more secure, and gets you funded in days instead of weeks.