HELOC - Vision Home Mortgage

Home Equity Line of Credit (HELOC)

Vision Home Mortgage - Offering HELOCs in Nevada

The ability to build equity is one of the most powerful perks of being a homeowner. You can access your equity from either a refinance loan or a home equity line of credit (HELOC). HELOCs are an amazing program to be able to access your equity without having to obtain a new mortgage and lose your interest rate or pay expensive closing costs. There are advantages and disadvantages to each form of credit so its important to learn and understand the pros and cons before moving forward. 

HELOC Requirements

Minimum FICO score of 640 (may vary by lender)

Maximum line amount up to 90% of the homes value

Maximum Debt-To-Income Ratio of 50%

Minimum initial draw is based off of line amount.

Primary and Second homes are permitted. (inluded warrantable condos and attached/detached SFR and PUDs)

Exploring HELOCs

HELOCs allow you to access a percentage of your homes equity without losing your current interest rate or increasing your first mortgage payment. HELOCs are a revolving credit line that are attached to your home. Lenders offer a variety of different ways for you to be able to access your funds such as online transfers, writing a check, or using a credit card thats connected to your HELOC. You can use these funds as an emergency backup, home renovations, vacations, or whatever your goals are! HELOCs tend to have little to no closing costs compared to other home loans and usually get rolled into the inital draw of the HELOC preventing you from having to bring in funds at closing! HELOCs usually feature an adjustable interest rate, although some lenders may offer fixed rates for a specified time period before ultimately converting to an adjustable rate.

HELOC Loan Limits

Our HELOCs allow you to access up to 90% of your homes available value with a maximum line amount of up to $500,000.

Pros and Cons of a HELOC


  • Lower interest rates compared to credit cards and personal loans

  • Access your homes equity when you want

  • Interest only payments during the draw period

  • You may have the option to lock in or "fix" your rate

  • Larger credit line compared to credit cards or personal loans


  • Adjustable Interest Rate could increase in the future

  • Minimum draw requirements

  • Possible fees and closing costs

  • Risk of overspending due to interest-only payments

  • Could be riskier for people with unstable income

Is a HELOC right for you?

Whether your paying off debt, doing home improvements, or opening a line to obtain some cash savings, HELOCs are a great idea if you plan to access your homes equity without wanting to increase your first mortgage payment. It is important to reach out to a mortgage professional and discuss whether its the best option for you.