A Home Equity Line of Credit (HELOC) is a flexible financing option that allows qualified homeowners to access a revolving line of credit secured by the equity in their property. Unlike a traditional loan, a HELOC lets you draw funds as needed during the draw period and only pay interest on the amount you use.

HELOCs are commonly used for home improvements, debt consolidation, major expenses, or investment opportunities, offering flexibility and control over how and when funds are accessed.

Because approval is based on available equity and overall financial profile, HELOC programs may offer alternative qualification options compared to standard mortgage products, depending on the lender and scenario.

1. A Home Equity Line of Credit may be a good fit for homeowners who:
2. Have built meaningful equity in their primary or secondary residence
3. Want flexible access to funds rather than a one-time lump sum
4. Prefer interest-only payments during the draw period, when available
5. Need financing for renovations, large expenses, or strategic investments
6. Are seeking solutions that may allow alternative documentation, depending on the program

1. Revolving line of credit with reusable access to funds
2. Interest charged only on the amount drawn
3. Potentially lower rates compared to unsecured credit options
4. Flexible use of funds with no restriction on purpose
5. May be paired with alternative income documentation in select scenarios

To learn more about Bank Statement loan options, please call (866) 649-0179 or request a quote today.