Home equity line of credit
HELOCs: tap your home equity without refinancing.
A HELOC lets you borrow against the equity you've built while keeping your current first mortgage, and its rate, exactly as it is.
Why homeowners choose a HELOC
Keep your current rate
Your first mortgage stays untouched, so a low rate you locked in years ago stays put.
Borrow as you need it
Draw funds when you need them instead of taking one lump sum.
Pay interest on what you use
Interest is charged on the amount you draw, not your full credit line.
Fast, mostly online options
Some HELOC programs offer a quick, largely digital process from application to funding.
Popular ways to use a HELOC
- Home renovations and remodels
- Paying off higher-interest debt
- College tuition
- A safety net for emergencies
- Down payment on a second home or investment property
- Major medical or life expenses
Common questions
How much can I borrow with a HELOC?
It depends on your home's value, what you still owe, your credit, and your income. Lenders limit how much of your home's value you can borrow against in total. I'll run your numbers so you know your options.
HELOC or cash-out refinance: which is better?
If you have a low rate on your current mortgage, a HELOC often makes sense because it leaves that rate alone. A cash-out refinance replaces your whole mortgage. I'll compare both for your situation.
Is HELOC interest tax-deductible?
In some cases, depending on how you use the funds. Talk to your tax advisor about your situation.
Do you offer HELOCs outside California?
I'm licensed in California, Texas, South Carolina, Florida, and Tennessee. Availability and terms vary by state, so reach out and I'll tell you what's available where you live.
Other loan options
See how much equity you can access.
Call, text, or apply online, and I'll walk you through your HELOC options.
HELOC rates are typically variable and may change over the life of the line. Mandy Phillips, NMLS# 1878035. Omega Mortgage Group, NMLS# 1253874. This is not a commitment to lend. All loans are subject to credit approval and underwriting guidelines. Programs, rates, and terms vary by state and are subject to change.
