Find Out Your Surprising HELOC Borrowing Power Now
How Your HELOC Borrowing Power is Determined
Your borrowing power with a HELOC is primarily determined by the amount of equity you have in your home. Typically, lenders allow you to borrow up to 85% of your home's appraised value minus what you owe on your mortgage1. Other factors include your credit score, income, and existing debts. Lenders assess these to determine your creditworthiness and the maximum amount you can borrow.