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Guaranteed Rate, Inc. home equity line of credit (HELOC) is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw. This product is currently not offered in the states of New York, Kentucky, Tennessee, Texas, West Virginia, Delaware and Maryland. The HELOC requires you to pledge your home as collateral, and you could lose your home if you fail to repay. Borrowers must meet minimum lender requirements in order to be eligible for financing. Available for primary, second homes and investment properties only. Dependent on minimum credit score and debt-to-income requirements. Occupancy status, lien position and credit score are all factors to determine your rate and max available loan amount. Not all applicants will be approved. Applicants subject to credit and underwriting approval. Contact Guaranteed Rate for more information and to discuss your individual circumstances. Restrictions Apply.

¹Source: Average credit card interest rate is 24.72% (Forbes) vs. our HELOC starts at 8.65% (subject to change) – which is 64% lower.

²During Guaranteed Rate's Digital HELOC process, the borrower and/or Guaranteed Rate may need to communicate or facilitate the origination and closing of the borrower’s HELOC using non-digital methods, including but not limited to telephone or letter. There may be instances, due to borrower preference, applicable law, or other reasons, in which HELOC closing must occur in person. Additionally, Guaranteed Rate makes no representations and cannot guarantee that borrower’s HELOC will be serviced by a servicer that maintains an entirely digital process.

³Approval may be granted in five minutes but may be subject to verification of income and employment. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing. In addition, funding timelines may be longer if we cannot readily verify that your property is in at least average condition with no adverse external factors with a property condition report and may need to order a desktop appraisal to confirm the value of your property.

⁴Our loan amounts range from a minimum of $25,000 to a maximum of $400,000. For properties located in AK, the minimum loan amount is $25,001. Your maximum loan amount may be lower than $400,000 and will ultimately depend on your home value and equity at the time of application. We determine home value and resulting equity through independent data sources and automated valuation models.

For Guaranteed Rate Home Equity Line, our APRs can be as low as 8.65% for the most creditworthy applicants and will be higher for other applicants, depending on credit profile and subject to applicable law. For example, for a borrower with a CLTV of 50% and a credit score of 800 who is eligible for and chooses to pay a 4.99% origination fee in exchange for a reduced APR, a five-year Guaranteed Rate Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 8.65%. The total loan amount would be $52,495. Alternatively, a borrower with the same credit profile who pays a 3.99% origination fee would have an APR of 8.95% and a total loan amount of $51,995. Your actual rate will depend on many factors such as your credit, combined loan to value ratio, loan term, occupancy status, and whether you are eligible for and choose to pay an origination fee in exchange for a lower rate. Advertised rates and terms are current as of 3/1/2024 and are subject to change without notice. In addition to paying the origination fee in exchange for a reduced rate, the advertised rates include a discount of 0.25% for enrolling in autopay.

For more information about HELOCs, click here

Apply in 5 minutes, receive funds in 5 days,
borrow up to $400K and keep your current
mortgage rate all while benefiting from rates
much lower than most credit cards.

Apply in 5 minutes, receive funds in 5 days, borrow up to $400K and keep your current mortgage rate all while benefiting from rates much lower than most credit cards.

Compare the national average mortgage rate to current rates available. Check Our Rates➜

Ridiculously fast HELOC

Our HELOC lets you use your home equity to consolidate debt or finance big expenses like
home renovations - all at a rate 64% lower than
most credit cards.¹

Our HELOC lets you use your home equity to consolidate debt or finance big expenses like home renovations - all at a rate 64% lower than most credit cards.¹

Compare the national average mortgage rate to current rates available. Check Our Rates➜

The funds you need fast with our digital HELOC²      Find my rate ➜

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More options.
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Complete a fully digital application in 5 minutes, receive funds in as fast as 5 days, enjoy low monthly payments with up to 30-year terms, and benefit from rates significantly lower than most credit cards.

Complete a fully digital application in 5 minutes, receive funds in as fast as 5 days, enjoy low monthly payments with up to 30-year terms, and benefit from rates significantly lower than most credit cards.

More options.
More advantages.

The funds you need fast with our digital HELOC.² Find my rate ➜

Ridiculously fast HELOC

Our HELOC vs others

Delaware Licensed Loan Officers | Texas Consumers: How to file a complaint | Do No Sell or Share My Personal Information and/or Limit the Use of My Sensitive Personal Information

Please note that applications, legal disclosures, documents or other material related to Guaranteed Rate products or services promoted on this page are offered in English only. The Spanish translation of this page is for the convenience of our clients; however, not all pages are translated. If there is a discrepancy between the content of the translated page and the content of the same page in English, the English version will prevail.

Copyright © 2024 Guaranteed Rate, Inc. D/B/A Rate. All rights reserved.
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Arizona Mortgage Banker License #0907078
3940 N. Ravenswood Ave Chicago, IL 60613
Operating as Guaranteed Rate, Inc. in New York.
The company name, Guaranteed Rate, should not suggest to a consumer that Guaranteed Rate provides an interest rate guaranteed prior to an interest lock. 

Our HELOC vs others

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