Home Equity Loans and HELOCs in Northwest Arkansas
A home equity line of credit lets you borrow against the value you've built in your home without touching your first mortgage. For homeowners who want it fast and fully online, we partner with Aven.
- Loan type
- Second lien, keeps your first mortgage
- Good fit
- Homeowners with equity, one-time or ongoing needs
- Process
- Online with our partner Aven
What a home equity line of credit is
A HELOC is a revolving line of credit secured by your home. It sits behind your existing mortgage as a second lien, so your current rate and payment stay exactly where they are. You draw what you need, when you need it, and pay interest only on what you've used.
That makes it different from a cash-out refinance, which replaces your whole mortgage with a bigger one. If you like the mortgage you have, a HELOC is usually the way to reach your equity without giving it up.
What homeowners use it for
Most of the HELOC conversations we have come down to a few things:
Common uses
- Home improvements and repairs, from a new roof to a kitchen
- Paying off higher-interest debt with one predictable payment
- Education costs
- A cushion for a business or an investment
- Emergency funds you can draw on without selling anything
Interest on a HELOC used for home improvements may be tax-deductible. That depends on your situation, so talk to a tax advisor before counting on it.
Our lending partner
Ready to check your offer? Start with Aven.
Aven's application is fully online. Check your offer in minutes without affecting your credit score, get a decision in as fast as 15 minutes, and go straight to underwriting.
HELOC or cash-out refinance?
If your current mortgage has a rate and payment you want to keep, a HELOC leaves it alone and adds a separate line on top. If your current mortgage is one you'd like to replace anyway, a cash-out refinance rolls everything into one new loan.
There's no universal right answer. It depends on how much you need, how long you'll take to repay it, and what your first mortgage looks like today. A ten-minute call sorts it out.
Related programs: Refinance · Conventional Mortgages · Loan Programs
Home Equity Loans questions we hear most
How much can I borrow with a HELOC?
It depends on how much equity you have, your income, and your credit. Lenders set a maximum share of your home's value that all liens combined can reach, and your line is sized from what's left after your first mortgage. Aven's online offer check shows your line size in minutes without a hard credit pull.
Does checking my offer with Aven affect my credit?
Checking your offer is a soft pull on the inquiry, so it does not affect your credit score. A hard pull happens once you proceed with the application.
Will a HELOC change my existing mortgage?
No. A HELOC is a second lien that sits behind your current mortgage. Your first mortgage's rate, payment, and term stay the same.
Should I do a HELOC or refinance?
If you want to keep your current mortgage as is, a HELOC adds to it without replacing it. If you'd like a new first mortgage anyway, cash-out refinancing may make more sense. Call us and we'll walk through both with your numbers.
Ready to check your offer? Start with Aven.
Opens Aven's secure application in a new tab. Not sure a HELOC is the right fit? Call us first.