How does a HELOC work?

A HELOC is a revolving line of credit secured by your home equity. During the 5-year draw period you can borrow up to your credit limit as needed, paying interest only on the outstanding balance. After year 5 the draw period ends and no further draws are available; you then repay principal and interest over the repayment period.

What's the draw period?

The draw period is the time during which you can access funds from your HELOC. Our 5-Day HELOC has a 5-year draw window: draws end after year 5, so plan withdrawals inside it. During the draw period you typically make interest-only payments on the amount you have drawn.

Is a HELOC rate fixed or variable?

HELOCs typically have variable interest rates tied to the Prime Rate. Your rate will change as the Prime Rate changes. Some lenders offer fixed-rate conversion options for all or part of your outstanding balance.

How much can I borrow with a HELOC?

Your credit limit is based on your home's value and your existing mortgage balance. Most lenders allow a combined loan-to-value (CLTV) of up to 90%. For example, if your home is worth $500,000 and you owe $300,000, you may be eligible for a HELOC of up to $150,000.

Can I pay off my HELOC early?

Yes, you can pay down or pay off your HELOC at any time. Some lenders may charge an early closure fee if you close the account within the first few years. Check your loan agreement for any prepayment or early closure terms.

5-Day HELOC

Our Most Popular Product

5-Day HELOC

Our most popular product: fund in as little as 5 days

A Home Equity Line of Credit that qualifies on your total household income with no documents required, while your low-rate first mortgage stays exactly where it is. Draw funds as needed and pay interest only on what you use.

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Key Advantages

Why Choose a 5-Day HELOC?

Here's what sets this loan product apart and who it works best for.

Qualify on Household Income

The whole household counts toward qualifying, and the highest FICO in the household is the one that gets used.

No Documents Required

No tax returns, W-2s, or pay stubs to gather. The application is fast because the paperwork is not the point.

Keep Your Low-Rate First Mortgage

The line sits behind your existing first mortgage, so the rate you locked years ago stays untouched.

Know Your Draw Window

You have a 5-year window to draw on the line. After year 5 the draw period ends and no further draws are available, so plan your withdrawals inside it.

Calculator

HELOC Calculator

Estimate your available equity and interest-only draw payment.

Home Value$700K

$100K$5.0M

Current Mortgage Balance$400K

$0$700K

Draw Amount$50K

$0$230K

Interest Rate (variable)

Enter the rate you want to model. We don’t advertise rates; your pricing is quoted individually.

Enter an interest rate above to see your results.

Calculator results are estimates only and do not constitute a loan offer, pre-approval, or commitment to lend. Actual terms may vary.

Eligibility

Qualification Requirements

General guidelines for 5-Day HELOC eligibility. Requirements vary by lender and scenario.

Requirement	Guideline
Minimum Credit Score	680+ (investment property typically 700+)
Max CLTV	90% (investment property typically 80%)
Property Type	Primary residence or investment property
Draw Period	5 years (no further draws after year 5)

These are general guidelines only. Specific program requirements may vary. Contact us for a personalized review of your scenario.

FAQ

Frequently Asked Questions

Common questions about 5-Day HELOC loans.

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West Capital Lending, Inc. is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.

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