Home equity · 17 states
HELOCs in Connecticut, Massachusetts and 15 More States
Use your equity without touching your first mortgage. The loan you already have, and its rate, stay exactly where they are.
A home equity line of credit sits behind your existing loan as a separate lien. Draw what you need for a renovation, debt payoff or the next property, and pay interest only on what you use.
4.9 · 450+ Google Reviews · Direct Lender in 17 States · Family-Owned Since 1998
4.9
Average Google rating
450+
Google reviews
Since 1998
Family-owned direct lender, based in Connecticut
NMLS #2801
Licensed in 17 states
Turned down by your bank?
A bank's no isn't the last word
Self-employed
Qualify on 12 months of bank statements instead of tax returns, the same way we do bank statement mortgages.
Rental properties
HELOCs on 1–4 unit investment properties, up to 80% combined loan-to-value. Rentals owned in an LLC are welcome.
Your whole picture
Credit scores from 620. Our Approval Team looks at your deposits, your equity and your credit together.
A real estate developer came to us after his bank turned down his HELOC. We looked at his deposits and got it done.
At a glance
Flexible access to your equity
Keep your first mortgage
Your existing loan and its rate stay untouched.
Pay on what you use
Interest only on the amount you actually draw.
5–10 year draw
Then a 10–20 year repayment period.
10–20% equity left
Up to 90% CLTV at home, 80% on a rental.
3–4 weeks to close
Underwritten in-house, no third-party delays.
Fixed-rate options
Fixed-rate and first-lien HELOCs are available too.
The math
How much can you access?
Take your home's value times the maximum combined loan-to-value, then subtract what you owe.
Your maximum depends on your credit score, the type of property and the size of the line. Enter your own numbers and the calculator applies our current program limits. No SSN and no credit check.
HELOC reviews
From our HELOC clients
★★★★★
“Gaetano and Trevor recently helped me with a HELOC on my house, and both did such an amazing job. Working in the real estate business myself, I’m pretty in tune with what it takes to get a deal done smoothly, and they absolutely delivered. Trevor was incredibly responsive, kept me updated every step of the way, and made the process move faster than I expected. From start to finish, it couldn’t have been easier, and I really appreciate how seamless they made it.”
Ronald C. · HELOC client · Google review
★★★★★
“They explained every aspect of the loan, answered all our questions, and ensured a comfortable and informed experience that was very quick in closing!!”
Austin R. · HELOC client · Google review
How it works
Four steps to an open line
01
Equity check
Balance, value and maximum combined loan-to-value.
02
Application
Income, credit and often an appraisal, all in-house.
03
Terms, explained
Draw and repayment periods, rate and payment scenarios. No buried terms.
04
Close and draw
Most close in 3 to 4 weeks. Draw by check, transfer or linked account.
Local
For homeowners who locked in low
If you locked in a low rate on your first mortgage, a cash-out refinance would replace the whole loan at today's pricing. A HELOC leaves it alone. We run both scenarios for every homeowner, in every state we lend in.
HELOC rates
What sets your HELOC rate
Equity left after the line
The more equity you keep, the better the pricing usually is.
Your credit score
620 gets you in. Higher scores earn better pricing.
Home or rental
A line on your primary home usually prices better than one on an investment property.
See your options in about 2 minutes, with no SSN and no hard credit pull. We walk you through your actual rate and terms before you commit to anything.
HELOC Requirements
To qualify for a HELOC through AFC, you generally need to meet the following criteria. AFC will review your full picture before recommending the best path forward.
Home Equity
Up to 90% combined loan-to-value (CLTV) on a primary home and 80% on an investment property, so at least 10–20% equity stays after the line.
Credit Score
620+ to qualify. 700+ for the best rates. AFC works with borrowers across a range of credit profiles.
Debt-to-Income Ratio
Up to 43% DTI including the new HELOC payment. Strong assets or income may allow higher ratios.
Property Type
Primary residences and investment properties are eligible. Some programs allow second homes.
Income Documentation
W-2s, tax returns, or bank statements. Self-employed borrowers can qualify on 12 months of bank statements.
Appraisal
A full or automated appraisal may be required to confirm current market value and calculate available equity.
Where We Lend
AFC Mortgage Group offers HELOCs and home equity solutions in 17 states. If you have built equity in your home and want to put it to work, our team can help you access it efficiently.
Connecticut · Alabama · California · Florida · Georgia · Massachusetts · New Hampshire · New Jersey · New York · North Carolina · Ohio · Pennsylvania · Rhode Island · South Carolina · Tennessee · Texas · Vermont
FAQ
HELOC questions
How much equity do I need for a HELOC?
On a primary home with strong credit, up to 90% of your home's value minus what you owe. Rentals go up to 75% with a mortgage, or 80% if owned free and clear. Your number depends on your credit and the size of the line, and the calculator above shows yours. Example: a $500,000 home with $300,000 owed at 90% could access up to $150,000.
Want your own number? Try our HELOC calculator: enter your home's value, what you owe and your credit range. No SSN and no credit check.
Will a HELOC change my first mortgage?
No. A HELOC is a separate lien behind your first mortgage, so your original loan and its rate stay as they are.
HELOC or cash-out refinance?
If your current rate is low, a HELOC keeps it. A cash-out refinance replaces your whole mortgage at today's rates, which can make sense if your rate is already high. We run both.
What's the difference between a HELOC and a home equity loan?
A home equity loan is a lump sum with fixed payments. A HELOC is a revolving line you draw from as needed, typically at a variable rate. We offer both, and we'll show you each one side by side.
How long are the draw and repayment periods?
The draw period is typically 5 to 10 years, followed by a 10 to 20 year repayment period.
How long does a HELOC take to close?
We close most HELOCs in 3 to 4 weeks, with underwriting handled in-house.
Can I use a HELOC to buy an investment property?
Yes. Homeowners use HELOCs for rental property down payments, renovations, debt consolidation, education and emergencies. We also offer HELOCs on investment properties you already own.
Can I get a HELOC if my bank said no?
Often, yes. We can qualify self-employed borrowers on 12 months of bank statements, and we offer HELOCs on 1–4 unit investment properties, including ones owned in an LLC. Credit scores start at 620.
Use your equity. Keep your rate.
Not a commitment to lend. HELOC rates are typically variable and can change. Programs, terms and eligibility are subject to change and to credit, property and underwriting approval. AFC Mortgage Group, LLC | NMLS #2801 | Equal Housing Lender.