Conventional & Government
HELOC
Traditional HELOC
Variable-rate revolving line of credit secured by your home's equity.
Available throughout Southern California through Francisco Williams, CCIM, NMLS #1858674.
680
Min FICO
full doc
Docs
Ideal borrower
Homeowners wanting flexible access to equity for projects or reserves.
Program highlights
- Draw period (typically 10 yr)
- Variable rate tied to Prime
- Interest-only during draw
Typical uses
- Home improvement
- Emergency reserve
- Debt consolidation
Frequently asked questions
- What's the difference between HELOC and a fixed-rate second?
- A HELOC is variable-rate (tied to Prime), has a draw period where you can borrow and repay flexibly, then a repayment period where you must pay it down. A fixed-rate closed-end second is a one-time lump sum with a fixed rate and payment — simpler but less flexible. Choose HELOC for ongoing access to equity, fixed second for a one-time need.
- Can I get a HELOC without touching my low-rate first mortgage?
- Yes — that's the whole point. Your low-rate first mortgage stays intact. The HELOC is a separate second lien that lets you tap accumulated equity without refinancing. In rising-rate environments this is often the best equity-access tool.
- What credit score is needed for a HELOC?
- Minimum 680 FICO for most HELOC programs, 700+ for best pricing. Tighter than first-mortgage programs because second liens are riskier for the lender in a default scenario.
Program details shown are representative guidelines and subject to individual lender overlays and CFPB / agency requirements. Rates shown are illustrative and subject to change without notice. Actual rate, APR, and terms will depend on creditworthiness, loan-to-value, property type, occupancy, loan amount, loan program, and other factors. Not all applicants will qualify.