Put Your Home Equity to Work
Access the equity you’ve built in your home without replacing your existing first mortgage. A Home Equity Line of Credit can provide flexible financing for renovations, major expenses, investments, and more.
Flexible Access to Your Home Equity
A Home Equity Line of Credit, or HELOC, allows qualified homeowners to borrow against a portion of the equity in their home. Rather than receiving the entire amount at once, a HELOC generally provides a revolving line of credit that can be accessed as needed during the applicable draw period.
Because your existing first mortgage can remain in place, a HELOC may be worth exploring when you need access to equity but do not necessarily want to refinance your current mortgage.
A Flexible Solution for Life’s Next Chapter
Home Improvements
Renovations, repairs, additions, and other improvements to your property.
Major Expenses
Access funds for significant planned expenses when additional flexibility is needed.
Real Estate Opportunities
Explore using available equity as part of your strategy for another real estate purchase or investment.
Financial Flexibility
Establish access to available funds rather than borrowing the entire approved amount upfront.
Which Option Fits Your Goals?
| Feature | HELOC | Cash-Out Refinance |
|---|---|---|
| Existing first mortgage | Generally remains in place | Replaced with a new mortgage |
| Access to funds | Draw as needed, subject to terms | Lump sum at closing |
| Interest rate | Often variable | May be fixed or adjustable |
| Best considered when | You want flexible equity access | Replacing the first mortgage makes sense |
Not sure which option fits your goals?
Our team can help you compare your available financing options.
Equity You’ve Built. Flexibility When You Need It.
Keep Your Existing First Mortgage
Access equity without necessarily refinancing your current first mortgage.
Borrow as Needed
Use available credit based on your needs and the terms of your line.
Flexible Uses
From renovations to major expenses and real estate opportunities.
Personalized Guidance
Premier Point helps you understand your options before deciding how to access your equity.
A Simple Process. Real Possibilities
Tell Us Your Goals
Share what you’re looking to accomplish.
Review Your Equity & Qualifications
We’ll review the key details to understand your options.
Explore Available Options
Our team will help you compare available programs and terms.
Access Your Line of Credit
Once approved, you can access funds based on the terms of your HELOC.
Several Factors Help Determine Your Available Equity
The amount of equity you may be able to access can depend on several factors, including your home’s value, existing mortgage balance, credit profile, income, debts, property type, and lender or program requirements.
Premier Point Mortgage can review your financial goals and available options to help you understand what may be possible.
Your HELOC Questions, Answered
A HELOC is typically a separate lien and generally does not replace your existing first mortgage. Program terms and qualification requirements can vary.
A HELOC generally provides a revolving line of credit, while a home equity loan typically provides a lump sum. Product structures and repayment terms vary by lender and program.
Many HELOCs have variable rates, although product structures can vary. Your loan officer can review the specific terms of available options.
The amount available depends on factors such as property value, existing mortgage balance, credit profile, income, debts, property type, and lender requirements.
Depending on the program, borrowers may use available funds for home improvements, major planned expenses, real estate opportunities, and other permitted purposes.
Some lenders and programs may offer home equity financing on eligible investment properties. Availability and qualification requirements vary.
Costs vary by lender, program, property, and transaction. Your loan officer can review applicable fees and estimated costs before you proceed.
Timing varies based on the lender, property, documentation, valuation requirements, and borrower circumstances. Your loan officer can provide a more specific estimate after reviewing your scenario.
See What Your Home Equity Could Do for You
Tell us what you’re looking to accomplish, and a Premier Point mortgage professional can help you explore available home equity financing options.
Explore Your HELOC Options
Complete the form below and a Premier Point mortgage professional will follow up with you.
