Home Equity Line of Credit

Draw against the equity in your home as you need it. HELOCs are the right fit when you want a revolving line — or when a cash-out refinance would be under $500,000 (we only do cash-out refis at $500k+).

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Owner-occupied and second homes. Cash-out refinance is a separate product at $500k+.

Professional reviewing bridge loan options
HELOC Home Equity Line
Draw as needed Revolving line

When a HELOC Fits

A home equity line of credit lets you borrow against equity, draw as needed, and only pay interest on what you use.

Home improvement

Renovate, repair, or add on without taking a lump-sum second mortgage. Draw for contractors as work is done.

Cash under $500k

Need equity out but the loan would be under $500,000? We do not offer cash-out refinance below that floor — a HELOC is the path.

Business or personal use

Use the line for working capital, education, medical bills, or consolidating higher-rate debt — you control when you draw.

Standby liquidity

Keep a revolving line in place for opportunities or emergencies without paying interest until you actually draw.

HELOC Advantages

Draw as you go

A revolving line — use what you need, repay, and draw again during the draw period.

Interest on draws only

You typically pay interest on the outstanding balance, not the full approved line.

Keep your first mortgage

A HELOC sits in second position so you do not have to refinance a low-rate first mortgage.

Eligible Property Types

HELOCs are for homeowners tapping equity in a primary residence or second home. Investment-property cash-out at $500k+ is a cash-out refinance. Short-term investor deals are a bridge loan.

Primary residence

  • Single-family homes you live in
  • Townhomes and condos (owner-occupied)
  • Sufficient equity after the first mortgage
  • Title in the borrower's name

Second homes

  • Vacation or seasonal homes
  • Not a primary residence, still owner-used
  • Need $500k+ cash-out on an investment property? Use cash-out refinance
  • Need a short-term investor loan? Use a bridge loan

HELOC vs cash-out refinance

A HELOC is a revolving second-lien line against your home. Cash-out refinance replaces the first mortgage and is only available here at $500,000+. If you asked for cash-out under $500k, we will match you to a HELOC instead. We do not offer ground-up construction or fix-and-flip loans.

Revolving

Draw, repay, redraw

2nd lien

Keep your first mortgage

Under $500k

Cash-out alternative

Ready to tap your home equity?

Start a HELOC application in minutes. If you need $500,000+ as a cash-out refinance, we will send you to that application instead.

Apply for a HELOC →

Frequently asked questions

Straight answers about Loanable and this product

A HELOC is a revolving line of credit secured by home equity. Loanable matches homeowners with HELOC lenders; it does not make the loan. Cash-out requests under $500,000 are also matched to a HELOC instead of a cash-out refinance.

No. Public real estate products are HELOC, bridge loans, and cash-out refinance at $500,000+. Ground-up construction and fix-and-flip are not offered.

Use a HELOC when you want a revolving second-lien line, or when the cash-out amount is under $500,000. Cash-out refinance replaces the first mortgage and is only available at $500,000 and above.