Who this is for
Who benefits from a HELOC
Owners with low first-mortgage rates
Borrow without refinancing that low rate away.
Renovators
Draw for each phase of a project.
Debt consolidators
Replace higher-rate debt, with a payoff plan.
Investors
A ready line for the next down payment.
Program highlights
HELOC and home equity options
Variable-rate HELOC
Interest-only draw period, then repayment.
Fixed-rate home equity loan
Lump sum with a fixed payment.
Investment property HELOCs
Available from select lenders.
Fast programs
Some lenders use automated valuations for quicker closes.
Qualification guidelines
What lenders look at
Typical guidelines across my lender network. Every file is different, and I will tell you exactly where you stand after a quick review.
| Factor | Typical requirement | Required? |
|---|---|---|
| Combined loan-to-value | Usually up to 80–90% | ✓ YES |
| Credit score | Often 680+ | ✓ YES |
| Income docs | Usually required | ✓ YES |
| Refinancing first loan | Not needed | ✗ NOT REQUIRED |
In Hawaii
HELOCs in Hawaii
- Compare against cash-out. I show both so you see the true cost. Cash-out →
- Condos and leasehold narrow the lender list; I check the property first.
- Taxes: whether interest is deductible depends on how you use the money. Ask your tax advisor.
How it works
From first call to closing
- CallAmount and purpose.
- ShopBanks and wholesale lenders compared.
- ApprovalValuation and underwriting.
- Access fundsDraw as needed.
Common questions
HELOC FAQ
Will a HELOC change my first mortgage?
No. It's a separate second loan; your first mortgage rate and payment stay the same.
Is the rate fixed?
HELOCs are usually variable. Fixed-rate home equity loans and fixed-rate draws are also available.
How much can I borrow?
Typically up to 80–90% of your home's value, minus what you owe on the first mortgage.
Can I get a HELOC on a rental?
Some lenders offer them on investment properties, at different terms.
Sources: 12 CFR 1026.40 (HELOC disclosures); lender guidelines vary.
