HELOC guides
Straight answers on qualifying, documentation, costs and timing. Each guide is reviewed by a licensed mortgage loan originator and shows when it was last updated.
Getting started
- HELOC Requirements: What You Need to QualifyCredit score, equity, debt-to-income and the documents lenders ask for.
- How Long Does a HELOC Take to Close and Fund?Each step, the 3-day rule and how to close faster.
- HELOC on a Paid-Off House: How Much You Can BorrowBorrowing against a home with no mortgage.
- HELOC on a Second Home: Limits, Rules and TimingLimits, occupancy rules and why funding can be faster.
- HELOC on Investment Property: Requirements and LimitsLimits, credit and title rules for rentals, with a worked example.
Qualifying
- HELOC for Self-Employed Borrowers: How to QualifyTax returns, bank statements or a P&L: how lenders count your income.
- Bank Statement HELOC: How Lenders Calculate Your IncomeHow deposits become qualifying income, step by step.
- HELOC Without Income Verification: Who Qualifies and What It CostsQualifying on credit and equity instead of documented income.
- HELOC for 1099 Earners: How Lenders Count Your IncomeQualifying on 1099s, deposits or linked accounts.
- HELOC With a Profit and Loss Statement: How It WorksQualifying on a CPA-prepared profit and loss statement.
- HELOC With High Debt-to-Income: 4 Ways to QualifyPay off debt at closing, add income or borrow less to get under the limit.
- HELOC When Your Spouse Has Bad Credit: 3 Ways to QualifyApply on the stronger score, and in some states still count household income.
Costs and comparisons
- HELOC vs. Cash-Out Refinance: Which Costs Less?A side-by-side example over the same 10 years.
- Fixed-Rate HELOC: How It Works and When It Makes SenseFixed payments, how structures differ and how to compare.
- Can You Get a HELOC Without an Appraisal?When an automated valuation works, and what to do if it comes in low.
See how much you could borrow against your home.Open the HELOC calculator