Home Equity Line of Credit (HELOC)

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Tap into your home equity.

Connect with a Loan Officer to discuss your options.

Find out if this is the right time for a Cash-Out Refinance or Home Equity Line of Credit (HELOC).

In many areas, home prices are increasing fast and growing equity for owners like you at a faster than usual rate. A Cash-Out Refinance or a HELOC are just two of the ways that you can leverage the equity you’ve built.

A Cash-Out Refinance lets you take advantage of that equity by refinancing your home for more than you currently owe with HomeStreet Bank. This leverages your equity to provide cash.

A Home Equity Line of Credit or HELOC provides homeowners the ability to establish a revolving line of credit, so you can draw as much as you need, when you need it. You can take advantage of a HELOC on both primary residences and vacation homes. A HELOC may be used in conjunction with a refinance, or on its own to finance expenses such as home improvement projects, a major vacation, college tuition, to create a rainy-day financial resource, or as a down-payment source for your future home.

How to get started.

Connect with a HomeStreet Loan Officer and they will help you through the process of securing a the type of loan that will fit your needs. To be able to move forward in the application process, you’ll need to provide your W2 and two most recent paystubs. These documents are required so that the bank can assess your situation and work with you to find the best possible financial options available to you.

Ways that you can leverage your home equity:

Second Lien Mortgage | HomeStreet Bank

Eliminate Mortgage Insurance on Your Mortgage

When refinancing, you may be able to structure your mortgage with a HELOC as a second lien and avoid paying Mortgage Insurance. Learn more about Mortgage Insurance to help decide if a HELOC is right for you.

Lower Rate HELOC | HomeStreet Bank

Lower Rate on Your Mortgage

Refinancing your mortgage may be a smart way to take advantage of the current rate environment and reduce your interest rate.

During a refinance, you may also be able to use a HELOC as a second lien to transition from a Jumbo loan to the lower rate of a Conventional loan. A Conventional loan is a private-sector loan that is not guaranteed or insured by the U.S. Government. Learn more about Conventional loans here.

Using a HELOC for Home Improvement | HomeStreet Bank

Home Improvement Projects

Invest in home improvement projects or remodels. A popular way to use a home equity is funding home renovation projects, including those that you can do yourself. Use your home's equity to reinvest in your house and yard.

Using a HELOC for Your Down Payment | HomeStreet Bank

Down Payment

Is there a move in your future? Funds may be used as a down payment source for your future home, while awaiting the sale of your existing home. Get the low down on down payments and contact your Loan Officer to help with your transition.

Request a free consultation with our nearest lending expert.

All loans subject to approval.

Apply through our mortgage application.

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