HELOC
Tap your home equity on your terms
A Home Equity Line of Credit lets you draw funds as needed during the draw period, paying interest only on what you use. Perfect for home improvements, debt consolidation, or a financial safety net.
Key Advantages
Why Choose a HELOC?
Here's what sets this loan product apart and who it works best for.
Flexible Access
Draw funds as you need them during the draw period — not all at once — so you only pay interest on what you use.
Lower Initial Payments
Interest-only payments during the draw period keep monthly costs low while you maintain access to your credit line.
Competitive Variable Rates
Rates are typically lower than personal loans or credit cards because your home secures the line.
Reusable Credit
As you repay the principal, your available credit replenishes — similar to a credit card but secured by equity.
Calculator
HELOC Calculator
Estimate your available equity and interest-only draw payment.
Available Credit Line (90% CLTV)
$230,000
Amount Drawn
$50,000
Interest-Only Payment
$354/mo
Combined LTV (CLTV)
64.3%
Calculator results are estimates only and do not constitute a loan offer, pre-approval, or commitment to lend. Actual terms may vary.
Eligibility
Qualification Requirements
General guidelines for HELOC eligibility. Requirements vary by lender and scenario.
| Requirement | Guideline |
|---|---|
| Minimum Credit Score | 680+ |
| Max CLTV | 90% |
| Property Type | Primary Residence |
| Draw Period | Typically 5–10 years |
| Repayment Period | Typically 10–20 years |
These are general guidelines only. Specific program requirements may vary. Contact us for a personalized review of your scenario.
FAQ
Frequently Asked Questions
Common questions about HELOC loans.
Get Started Today
Ready to explore HELOC?
Answer a few quick questions and get a personalized strategy recommendation — including whether HELOC is right for your situation.
West Capital Lending, Inc. is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.
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