A Home Equity Line of Credit (HELOC) allows qualified homeowners to access a portion of the equity they’ve built in their home — without refinancing their existing first mortgage.
With a HELOC, you can access funds as needed during the available draw period, giving you flexibility to manage expenses, projects, or other financial goals.
A HELOC can provide flexible access to funds for a variety of needs, including:
If you have a favorable interest rate on your current first mortgage, refinancing your entire loan balance to access cash may not be the right solution.
A HELOC allows you to keep your existing first mortgage in place while accessing available equity through a separate line of credit.
Both options allow qualified borrowers to access home equity without refinancing their existing first mortgage.
A HELOC provides a revolving line of credit that allows you to draw funds as needed during the applicable draw period.
A Closed-End Second Mortgage generally provides your loan proceeds in one lump sum with a structured repayment schedule.
Our mortgage professionals can help you compare your options and determine which solution may be right for your needs.
Whether you're planning a renovation, consolidating debt, preparing for a major expense, or simply want access to available funds, Vision One Mortgage can help you explore your home equity options.
All loan programs are subject to borrower and property qualification, underwriting approval, program availability, and applicable lending guidelines. Rates, terms, credit limits, combined loan-to-value limits, draw periods, repayment periods, credit requirements, fees, and other program guidelines are subject to change without notice. HELOCs typically have variable interest rates, which means the interest rate and payment may change over time. Additional restrictions may apply. This is not a commitment to lend.