HOME EQUITY
HELOC
Use some of your home’s value when you need it.
Your equity is what your home is worth minus what you owe. A HELOC is a line of credit that lets you borrow against some of that equity.
- Borrow as you need it, up to your limit
- May let you keep your current first mortgage
- Can help pay for repairs or other planned costs
Good to know
The rate is often variable, so payments can change. Your home backs the loan. Missed payments can put your home at risk.
What should I have ready?
Your home’s value, what you owe, and how much you want to borrow.
Loan options depend on your state, property, and lender rules. Credit, documents, and approval are required.