HELOC — Northern Colorado
Access your equity without touching your first mortgage.
If your current mortgage has a rate you do not want to give up, a HELOC lets you access the equity you have built — on demand — without refinancing. Draw what you need, repay it, draw again.
Available to homeowners throughout Fort Collins, Greeley, Loveland, Timnath, Windsor, and Severance.
How a HELOC works for you.
Flexible access to capital secured by your home — without disturbing your existing loan structure.
Access Equity Without Refinancing
A HELOC lets you tap your home equity without replacing your existing first mortgage. If your current rate is competitive, a HELOC preserves it while still giving you access to capital.
Draw on Demand
Unlike a lump-sum cash-out refinance, a HELOC is a revolving line. Draw what you need, when you need it, during the draw period — typically 5 to 10 years. You only pay interest on what you actually use.
Variable Rate Structure
Most HELOCs carry a variable rate tied to the prime rate. Rates move with the market, which means they can decrease as well as increase. Some programs offer fixed-rate conversion options for draws you want to lock in.
Useful for Investors and Homeowners
A HELOC on a primary residence is commonly used to fund investment property down payments, renovations, or other capital needs — without selling the asset or disrupting the first mortgage.
HELOC vs Cash-Out Refi
Which structure fits your goal?
Frequently asked questions.
What is a HELOC?
A HELOC — Home Equity Line of Credit — is a revolving line of credit secured by your home. It works similarly to a credit card: you have a credit limit based on your available equity, you draw from it as needed during the draw period, and you repay what you use. Interest accrues only on the outstanding balance, not the full credit limit.
How much can I borrow on a HELOC?
The amount available on a HELOC depends on your home's current value, your existing mortgage balance, and the lender's combined loan-to-value (CLTV) limit. Most lenders allow up to 80–90% CLTV. For example, if your home is worth $600,000, your existing mortgage is $350,000, and the lender allows 85% CLTV, your maximum HELOC line would be $160,000. Actual limits depend on your credit and income as well.
What is the difference between a HELOC and a cash-out refinance?
A cash-out refinance replaces your entire first mortgage with a new, larger loan. A HELOC sits on top of your existing mortgage as a second lien. If your current first mortgage has a favorable rate, a HELOC preserves it. A cash-out refinance is usually better when you need a large lump sum and want a fixed rate. A HELOC is often better when you need flexible access to capital over time or want to avoid refinancing an existing low-rate first mortgage.
Can I use a HELOC to fund an investment property down payment?
Yes. Using a HELOC on your primary residence to fund a down payment on a rental or investment property is a common investor strategy. The HELOC gives you access to capital you have already built without requiring a sale or a full refinance. The investment property would then be financed separately through a DSCR loan, conventional investor product, or other structure appropriate to the acquisition.
How does HELOC repayment work?
HELOCs have two phases: a draw period and a repayment period. During the draw period (typically 5–10 years), you can borrow from the line and are usually required to make interest-only payments on the outstanding balance. When the draw period ends, the line closes and the repayment period begins — typically 10–20 years — during which you repay the outstanding principal plus interest. Monthly payments increase significantly during repayment, so planning ahead is important.
Find out how much equity you can access.
A free 15-minute call to review your home value, existing loan balance, and HELOC options — including whether a cash-out refinance would serve you better.