Home Equity
Fast & Simple Equity Lines
Unlock the power of your home's equity with a flexible Home Equity Line of Credit (HELOC) from Coastal Funding Corporation.
Why Choose a HELOC
Benefits of a Home Equity Line of Credit
Access Your Equity
Tap into the equity you've built in your home to fund major expenses, renovations, or consolidate debt.
Fast Approval Process
Our streamlined process gets you approved quickly so you can access your funds when you need them.
Flexible Draw Period
Draw funds as needed during the draw period, paying interest only on what you use.
Keep Your Home
A HELOC lets you leverage your home's value without selling or refinancing your primary mortgage.
Common Uses
What Can You Use a HELOC For?
The Process
How It Works
Apply
Complete our simple application online or by phone. Our team will review your information quickly.
Approval
We'll assess your home's equity, credit, and income to determine your credit line amount.
Access Funds
Once approved, access your funds as needed during the draw period — only pay interest on what you use.
Repay & Reuse
Repay what you borrow and draw again as needed throughout the draw period.
Common Questions
Frequently Asked Questions
What is a HELOC?
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home's equity. It works similarly to a credit card — you can borrow up to your credit limit, repay it, and borrow again during the draw period.
How much can I borrow with a HELOC?
The amount you can borrow depends on your home's current value, your outstanding mortgage balance, and your creditworthiness. Typically, lenders allow you to borrow up to 85% of your home's value minus what you owe on your mortgage.
What are the requirements for a HELOC?
Generally, you'll need sufficient equity in your home (typically at least 15-20%), a good credit score, stable income, and a debt-to-income ratio within acceptable limits. Our team will review your specific situation.
How long does the HELOC process take?
With our fast and simple process, many clients receive approval within days. The full process from application to funding typically takes 2-4 weeks, depending on your specific situation.
Is the interest on a HELOC tax deductible?
In many cases, HELOC interest may be tax deductible when the funds are used for home improvements. We recommend consulting with a tax professional for advice specific to your situation.
Ready to Unlock Your Home's Equity?
Contact us today to learn more about our HELOC products and find out how much equity you can access. Our team is ready to guide you through the process.
NMLS ID: 103035 | Licensed in FL, SC, TN | This is not a commitment to lend.