Put Your Equity
to Work.

A home equity line of credit is a revolving credit line secured by your home. During the draw period, you can generally borrow up to your approved limit, repay, and borrow again, subject to the lender’s terms.

A HELOC is often a separate second mortgage, so you may be able to keep your existing first mortgage. You still make payments on both. The lender will review your existing liens and its program requirements.

Your home’s value, all loans secured by it, income, debts, credit, and the lender’s rules all matter. The equity planner shows estimated equity and the combined loan-to-value ratio for your requested line. It does not calculate an approved credit limit.

This on-page planner does not run a credit check. It does not authorize a lender to obtain your credit report or send your information. A formal application may include a credit inquiry after you receive the required disclosures and authorization.

HELOCs usually have variable interest rates, so payments can change. Payments may increase when the draw period ends and repayment begins. Compare fees, minimum draws, rate terms, and repayment obligations. Your home is collateral and you could lose it if you cannot repay.