MyExpressHELOC™ • HELOC Rates Guide

HELOC Rates Guide: What Affects Your Home Equity Line of Credit Rate?

HELOC rates can vary based on your credit profile, home equity, property type, occupancy, requested loan amount, and market conditions.

Apply Online — Soft Pull Only Back to Home

How HELOC Rates Work

A Home Equity Line of Credit usually has a rate that can adjust over time. The rate available to you depends on both market conditions and your individual borrower profile.

Because HELOC pricing changes, this page is designed to explain what affects your rate rather than quote a specific rate that may become outdated.

Credit Score

Your Experian FICO 9 score is an important factor in eligibility and pricing.

Home Equity

The more usable equity you have, the stronger your overall profile may be.

Occupancy

Primary homes, second homes, and investment properties may be priced differently.

Key Factors That May Affect Your HELOC Rate

✓ Experian FICO 9 score
✓ Loan amount requested
✓ Home value and available equity
✓ Existing mortgage balance
✓ Primary, second home, or investment property
✓ Debt-to-income profile
✓ Property type
✓ Market interest-rate environment

Why Your First Mortgage Rate Matters

Many homeowners currently have first mortgages with rates that are lower than today’s market rates.

A HELOC may allow you to access equity separately, without refinancing your entire first mortgage into a new rate.

Compare HELOC vs Cash-Out Refinance

Credit Score Requirements

Primary Residence:
Generally 600 minimum FICO

Second Home:
Generally 600 minimum FICO

Investment Property:
Generally 680 minimum FICO

Initial Review:
Soft-pull Experian FICO 9

Can You Check Your Options Without Hurting Your Credit?

Yes. MyExpressHELOC™ starts with a soft-pull Experian FICO 9 eligibility review. This lets you review potential options without impacting your credit score.

No Full Appraisal on Loan Amounts ≤ $400,000

For eligible loan amounts of $400,000 or less, a full appraisal is generally not required. An AVM or BPO may be used.

If you disagree with the valuation, a full appraisal can be ordered.

Ways to Prepare Before Applying

Ready to Check Your HELOC Options?

Start online with a soft-pull eligibility review. You can check options quickly without impacting your credit score.

Apply Online — Soft Pull Only Learn About Experian FICO 9

HELOC Rates FAQ

Do HELOC rates change?

Many HELOCs have variable rates, meaning the rate may adjust over time based on loan terms and market conditions.

Does credit score affect my HELOC rate?

Yes. Credit score is one of the factors that may affect eligibility and pricing.

Is checking my rate a hard pull?

The initial MyExpressHELOC™ eligibility review uses a soft-pull Experian FICO 9 inquiry.

Can I keep my current mortgage?

Yes. A HELOC is separate from your first mortgage, so your existing first mortgage can remain in place.

MyExpressHELOC™ | Matthew Brown | Loan Factory, Inc. | NMLS #1254250 | Company NMLS #320841. Equal Housing Lender. Program details subject to change. Terms, conditions, eligibility, pricing, and rates apply.