HELOC – new

Home | HELOC – new

Home Equity Line of Credit (HELOC)

Need Cash, But Love Your Rate?

A HELOC allows you to borrow against the equity in your home without refinancing your current mortgage. This product gives you the flexibility and freedom to use the cash however you want for things like home improvements, pay for education expenses, or consolidate high interest debt and more.

Get your HELOC rate quote and access funds in as little as 5 days!

Benefits

  • Access to Cash: Tap into the equity in your home to access funds for various purposes such as home renovations, debt consolidation, or unexpected expenses.
  • Flexibility: Enjoy the flexibility of borrowing only what you need, when you need it, up to your approved credit limit.
  • Lower Interest Rates: HELOCs typically offer lower interest rates compared to other forms of credit such as personal loans or credit cards.
  • Tax Deductibility: In some cases, the interest paid on a HELOC may be tax-deductible.  Check with your tax professional.
  • Keep your home’s current interest rate! No need to refinance your current mortgage.

Approval in 5 minutes with funding in as few as 5 days with no impact to your credit score.

Allied HELOC is not available in New York, Hawaii, and West Virginia

  1. To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
  2. Allied HELOC is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.
  3. Allied HELOC loan amounts range from a minimum of $25,000 to a maximum of $400,000. For properties located in MI and TX minimum loan amounts will differ. For properties located in MI, the minimum loan amount is $10,000. For properties located in TX, the minimum loan amount is $35,000. Your maximum loan amount may be lower than $400,000 and will ultimately depend on your home value and equity at the time of application. We determine home value and resulting equity through independent data sources and automated valuation models.
  4. Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing. Five business day funding not available in Texas.

What Our Customers Are Saying

Reviewed for Justin Wallace on May-30-2025
“Justin made the process smooth and easy and was always there on standby when I had any questions. He also was always on top of everything to make sure I made the closing date even with the short time frame.”

Austin

Reviewed for Justin Wallace on May-30-2025
“Great customer experience and professionalism. justin was always there to prompty answer my questions even during the weekends .”

Amine

Reviewed for Andrew Savard on May-30-2025
“Great experience”

Chrysten

Reviewed for Dan Lapic on May-30-2025
“A lot of detailed pap”

Mindy R

Reviewed for Rosemarie Gadsby-Devlin on May-29-2025
“I was informed every step of the way. Rosemarie made an extremely challenging process less complicated and overwhelming with all of her help and support. She has great communication and patience and made this a great experience for me and my family. I would absolutely recommend her to any and everyone I meet who are looking to buy a home. She will not disappoint.”

Felicia

Reviewed for Jason Horten on May-28-2025
“Jason was avaiable every step of the way throughtout the process. He answered all the questions that I had throughout, and made sure to check in and support me along the way. Great experience by a true professional.”

Maxwell

Reviewed for Andrew Savard | Allied Mortgage Senior Loan Officer NMLS# 2055768 on May-28-2025
“Cannot recommend Andrew enough. We gave him an impossible timeline and not only did Andrew make it happen, he was responsive and provided updates every step of the way. He was always available to answer questions and make sure we were comfortable with every part of the process. Thank you to Andrew and the Allied team for all of the hard work!”

Chrysten

Reviewed for Sumit Rajpal on May-28-2025
“Thank you for all your efforts you made at a very short time and helped to close on same date.”

Satwinderjit

Reviewed for Cathy Rebecca Fernandes on May-28-2025
“Cathy Fernandes consistently went out of her way to keep us updated and informed throughout our first home purchase process. We were handled with such care and attention I couldn’t imagine going elsewhere to handle our mortgage. Her willingness to go above and beyond to get answers for our questions as quickly as possible is unmatched. Allied mortgage group has been incredibly accommodating and extremely professional. I’d only go here for my mortgage needs moving forward.”

ROBERTO

Reviewed for Andrew Savard on May-28-2025
“Andrew was so professional and helpful throughout the entire process We had a tight timeline and a somewhat unique student loan situation, but he guided us through and ultimately made it work I was very impressed by his knowledge and patience Allied is lucky to have such a professional employee on their team!”

Jason

Have Questions?
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877-448-2745 • info@alliedmg.com

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