Home Equity Line of Credit (HELOC)

Need financial flexibility? An AmeriSave Home Equity Line of Credit (HELOC) gives you access to funds when you need them, with competitive rates and straightforward terms.

Smart home equity borrowing starts here

An AmeriSave Home Equity Line of Credit puts up to $350,000 at your disposal with the stability of structured terms. Plus, your current mortgage stays exactly as is. Your home equity line of credit  works alongside it to give you additional financial flexibility.

Get more financial control

Secure access to your full credit line right away, with competitive adjustable home equity line of credit rates that work with the market.

Smart structure, simple terms

Select from 20- or 30-year terms and start with a 10-year interest-only period to help you manage your monthly payments.

Put your equity to work

Whether consolidating your high-interest credit card debt or updating your kitchen or consolidating debt, your HELOC provides the funding you need with terms designed for peace of mind.

Why choose an AmeriSave Home Equity Line of Credit?

We’ve spent more than two decades helping homeowners make their equity work harder. Our HELOC combines immediate access to funds with structured payments and zero hidden fees.

Substantial funding power

Tap into credit lines up to $350,000 to tackle your biggest financial goals.

Repay your way

Select the timeline that works best for you—whether that’s 20 or 30 years.

Market-responsive HELOC rates

Our competitive adjustable HELOC rates can be lower than unsecured credit products.

Quick online application process

We’ve streamlined every step from application to approval to get you funded faster.

Your path to a HELOC

1 Confirm your property is eligible

Confirm your property type is eligible for a home equity line of credit from AmeriSave. Eligible properties include primary residences, second homes, investment properties, 1–4-unit residential properties and condominiums.

2 Check your home equity

Want to know your borrowing power? Take your home’s current market value and subtract what you still owe on your mortgage. Our online equity calculator makes this even easier, or you can chat with an Amerisave Mortgage banker who can walk you through the numbers. With an AmeriSave Home Equity Line of Credit, you can access up to 85% of your home’s combined loan-to-value ratio (CLTV), with credit lines up to $350,000.

3 Prep and submit your application

Meeting our lending requirements starts with a minimum FICO credit score of 640. We’ll also review things like your income stability, debt-to-income ratio, and overall financial picture. Speed up your application by having these ready: your Social Security number, last two years of W-2s and current mortgage statements. Our digital application makes submission quick and simple.

4 Confirm your home’s value

Accurate home value is important for your home equity line of credit amount. We’ll arrange a professional appraisal (fees may apply) to determine your home’s worth. Good news: many properties now qualify for our streamlined digital valuation process, potentially saving time and money on appraisal fees.

5 Close on your home equity line of credit

Once approved, we’ll schedule your closing, where you’ll review and sign your HELOC documents. The unique feature of our loans is that you’ll receive access to your entire credit line right at closing—no waiting period or multiple draws needed.

6 Get flexible payment management

Borrowers start with 10 years of interest-only payments, giving you maximum flexibility with your monthly budget. When this period ends, you’ll move to a structured principal-and-interest payment plan for either 10 or 20 more years, depending on the term you choose. Your competitive rate will adjust with market conditions, but your payment structure will stay consistent.

Veron M. | Lawrenceville, GA

The process has been very quick and easy for a first timer like myself. Being able to provide things on-line via chat & email lets me handle things while taking care of other tasks.

Sprak | Charles Town

I cannot imagine an easier experience with anyone else. Everyone is friendly, helpful and simply caring. Love working with them.

Jason S | Elephant Butte, NM

Fantastic. Great company and staff. Professional and quick. The process from beginning to end was painless and speedy. Would recommend with 10 stars.
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Frequently Asked Questions

A home equity line of credit (HELOC) is a type of second mortgage that uses your home’s equity as collateral. With a HELOC, you receive a credit line you can draw from during a set period, with payments based on the amount you’ve borrowed. The loan typically starts with a draw period where you can borrow funds and make interest-only payments, followed by a repayment period where you pay back both principal and interest.

An AmeriSave HELOC gives you full access to your credit line right at closing, with a 10-year interest-only period followed by either a 10- or 20-year repayment term. This convenient structure combines immediate access to your funds with flexible payment options.

A home equity line of credit (HELOC) can be a smart financial tool that lets you borrow against your home’s equity while keeping your existing mortgage in place. HELOCs can offer several benefits: potential tax deductions when used for home improvements, the ability to borrow significant amounts based on your home’s equity, and payment flexibility during the draw period.

With an AmeriSave HELOC, you’ll get access to credit lines up to $350,000, plus a structured 10-year interest-only period to help manage your payments. Our program provides your full credit line at closing, and you can choose between 20- or 30-year terms to fit your financial goals.

A home equity line of credit (HELOC) is a type of second mortgage that uses your home’s equity as collateral. With a HELOC, you receive a credit line you can draw from during a set period, with payments based on the amount you’ve borrowed. The loan typically starts with a draw period where you can borrow funds and make interest-only payments, followed by a repayment period where you pay back both principal and interest.

An AmeriSave HELOC gives you full access to your credit line right at closing, with a 10-year interest-only period followed by either a 10- or 20-year repayment term. This convenient structure combines immediate access to your funds with flexible payment options.

A home equity line of credit (HELOC) works for a variety of important financial needs: debt consolidation, home renovations, education costs, and emergency expenses. With AmeriSave providing your full credit at closing, you can confidently plan how to use your funds.

Tap into your home’s potential

Make your equity count with an AmeriSave HELOC. You can get immediate access to up to $350,000, with 10 years of interest-only payments and flexible repayment terms.

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