Your streamlined Home Equity Line of Credit
Ready to make the most of the home equity you’ve earned over the years?
See if HomeEQ’s HELOC can work for you. Our simple digital application only takes 10-15 minutes. Apply now and access funding within as few as five days.
Unlock cash to pay for life’s milestones and expenses with our fully-digital HELOC
Get cash to fund important goals and expenses, whether they’re expected or unexpected. HELOCs provide cash to use as needed to finance things like debt consolidation, home improvements, college expenses, and other personal goals.
As you’ve invested in your home, you’ve built an asset you can borrow against to finance other needs.
What is a HELOC?
A Home Equity Line of Credit (HELOC) is financing secured by the equity you’ve built in your home or other property.
You can borrow against that equity to access cash that finances life’s milestones and expenses. The HELOC works alongside your current mortgage on the property, providing a new loan that offers flexible and affordable terms based on your specific needs.
HomeEQ HELOC benefits
- Get fast approval 24/7 with our digital application that takes only 15 minutes
- Borrow between $25k-$350k
- Choose your term lengths from 5-30 years
- Use with primary residences and second homes
- Avoid prepayment fees
How HomeEQ’s HELOC works for you
- With our fully-digital HELOC application, start an account to share basic details about your situation.
- Next, simply fill out our push-button application for quick, self-service approval that only takes 15 minutes. Here’s where a hard credit pull and other digital verification methods come in.
- If you’re approved, you’ll receive access to funding within as few as five days, avoiding the limitations of traditional banking hours and processes.
HELOC rates and terms
Explore a breakdown of our HELOC’s specific qualifications and terms to better understand how it works.
HELOC FAQs
With HomeEQ’s fully-digital HELOC experience, we skip the traditional underwriting to offer a truly push-button experience, from pre-approval to accessing your cash.
We offer our quick, easy, self-service HELOC option to empower homeowners to finance important moments they face in life. We offer funds faster than the typical bank or credit union so that you can make the most of your home equity as you please.
Once your HELOC is approved, you’ll receive access to funding that gives you cash to use as you please.
You can use it for large expenses like home improvements, paying for your child’s wedding, a car, and other expenses that require cash or don’t make sense on a credit card.
HELOCs can also be used to pay down high-interest debt like credit cards, student loans, or personal loans, making debt management more achievable and affordable.
The amount of cash you can access from your property depends on a variety of factors. First you’ll need to know how much equity you have, as well as the value of your house.
The amount of equity you have is essentially how much of your home you own, or how much of your mortgage you’ve already paid off. To calculate how much equity you have, subtract the balance of your mortgage from the property’s value.
HomeEQ offers HELOCs from $25,000-$350,000. The higher your equity, home value, and credit score, the larger the loan amount you can qualify for.
A soft credit pull is often done for the purpose of initial steps like a pre-approval, allowing you or a lender to see basic information about your credit history — but not your full credit report. It doesn’t affect your credit score in any way.
A hard credit pull is done when you’re ready to apply for a loan like a HELOC. The lender does a hard credit pull to view your entire credit report, which will help to determine what terms you qualify for. The hard credit pull will also be reported to your credit report and likely remain there for about 2 years. Having a one or two hard credit pulls on your report won’t hurt your credit. If you have more than a few though it can lower your credit score, so you want to be mindful when authorizing a hard credit pull.
With HomeEQ’s digital HELOC application, a soft credit pull is needed for initial account setup and pre-qualification. Once you’re ready to proceed, you’ll authorize a hard credit pull through the application process to officially apply for the HELOC.
