A Home Equity Line of Credit is different from the loans above — it's not for buying a home, it's for homeowners who want to put their existing equity to work. Think of it like a credit card secured by your home: you draw what you need, when you need it, up to your approved limit.
Generally a good fit if you...
- Already own a home with meaningful equity built up
- Want flexible access to funds for renovations, debt consolidation, or major expenses
- Would rather draw money as needed instead of taking one lump-sum loan
General guidelines
- Available credit: based on your home's value and how much you still owe, often up to 80–85% combined loan-to-value
- Structure: a draw period where you can borrow against the line, followed by a repayment period
- Rate: typically variable, tied to an index rate
- Credit score: generally 680+ for the best terms
Sitting on home equity you'd like to put to work?
Every situation is different, and these are general guidelines — the fastest way to know where you stand is a quick conversation. Send us a message or visit our team page to apply directly.