What's a HELOC?
A Home Equity Line of Credit (HELOC) is a type of loan that allows homeowners to borrow against the equity they have built up in their property. ​
​Key Features of a HELOC:
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Credit Line: Unlike a traditional loan that provides a lump sum, a HELOC provides a revolving line of credit that you can draw from as needed, up to a predetermined limit.
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Equity-Based: The amount you can borrow is typically based on the equity in your home, which is the difference between your home’s current market value and the remaining balance on your mortgage.
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Variable Interest Rates: HELOCs usually have variable interest rates, which means the rate can fluctuate over time based on market conditions.
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Draw Period and Repayment Period: A HELOC usually has two phases:
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Draw Period: This is the initial period (5 years) during which you can borrow money from the line of credit. You may be required to make interest-only payments during this time.
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Repayment Period: After the draw period ends, you enter the repayment period (25 years), during which you can no longer borrow money and must start repaying both the principal and interest.
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Flexibility: You can use the funds for various purposes, such as home improvements, debt consolidation, education expenses, or emergency expenses.
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5 DAY HELOC
Apply today and get your funds in 5 DAYS
Not ready yet? Got questions.
Call/Text David. (626) 321-2343
5 DAY HELOC
Home Equity Line of Credit
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Loan amount $25,000 to $400,000
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Minimum 640 FICO score
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No Appraisal Required (in most cases)
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Single Family, Condo, and 2-4 Units eligible
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Primary or Investment property
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Approval in minutes
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Close in Days, not weeks or months ​​​
DISCLAIMER Not all applicants will qualify for the 5-Day HELOC. Borrowers must meet credit and income qualifications. The lender uses automated technology to verify income for both W-2 and self-employed borrowers, including bank statement analysis. An automated valuation model (AVM) is used to determine home value; if the AVM fails, an appraisal is required. Rates are determined by credit score and CLTV (combined loan-to-value) and will be Prime plus. Maximum 80% CLTV. Borrowers must draw 75% of the approved loan amount at closing. The 5-Day HELOC typically closes in five days, though it may take longer due to underwriting. This is a brokered loan with one of our approved lenders.
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