Upstart Mortgage’s intuitive, fully online process facilitates a fast and easy way to tap into your home equity from the comfort of your home—without hidden fees.
No hidden fees
No annual fee³, prepayment penalty, or fees to redraw. Just a simple one time origination fee.
Fully online application
Apply and check your rate in minutes. Most borrowers can sign documents with an online notary.
No appraisal needed
Skip the stress and hassle involved with home appraisals, for nearly all applicants.
Let us answer your questions
What is a HELOC?
A home equity line of credit (HELOC) allows homeowners to borrow against the equity in their home. It provides a revolving line of credit that can be used for various purposes, similar to a credit card.
What is the difference between a HELOC and a home equity loan?
The main difference between a HELOC and a home equity loan is how you access the funds. With a HELOC, you can borrow from a revolving line of credit as needed, while a home equity loan provides a lump sum upfront.
How much can I borrow with a HELOC?
You can borrow up to $150,000. Note that certain states have specific minimum loan amounts. The exact amount you may borrow depends on what you qualify for based on your application information.
If I check my HELOC rate, will it impact my credit?
It will not. When you check your rate, we make a soft credit inquiry on your report, which doesn't impact your credit score. If you accept your rate and proceed with your application, we will make a hard credit inquiry to verify your information. This action will be recorded as a hard inquiry on your report and it may impact your credit score.
How fast can I get a HELOC?
Checking your rate takes as little as 10 minutes. Once you accept your rate, we have a seamless verification process. Once approved, it'll be an additional 3 business days in accordance with federal law to receive your funds.
1. When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus.
2. A Home Equity Line of Credit has a variable rate. The APR may change, but the APR that will apply to each draw will be fixed on the date the draw is made. Your APR will be the Prime Rate at the time of draw plus a margin fixed for the life of the HELOC.
3. Terms shown here are subject to change without notice. Origination fee to open an account is between 1.00% and 4.99% of the approved credit limit. The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal "Money Rates" table (currently 8.50%) plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.000%. Property insurance is required. Ask us for additional details.