Use your home’s equity to finance everything from home renovations, wedding, college tuition or even consolidate your debt—all with a rate 2⁄3 lower than most credit cards1,2.
Fully Automated
Home Equity Loan!
- No appraiser visit required
- No obligation or credit card required
- See your rate with NO impact to your credit score
- No annoying sales call - 100% online process
- Doesn't impact your existing first mortgage
- Primary Residences, Second Homes, and Investment Properties eligible
Consolidate debt and pay for home improvements FAST with our digital HELOC.3 Find my rate
5 minutes to apply.
Money in your pocket in a few days.4
Digital Application
No paperwork, no hassles. Link your accounts and we’ll handle your home equity line of credit. It’s even easier via the Rate App.
Fixed Rate HELOC
Traditional HELOCs keep you guessing with their variable rates, our HELOC rate is locked in for the life of your loan!
No Upfront Costs
Get the funding you need fast without having to bring any money to closing.
Quick Cash
A traditional HELOC takes 45-60 days. Ours? Only 5 to 10 days! 5
How our ridiculously fast
HELOC compares:
A home equity line of credit from The Kristoff Team at Guaranteed Rate comes with a reliable, fixed rate so your payments are always the same. There are other key benefits to choosing Guaranteed Rate as your HELOC lender, including:
| Guaranteed Rate HELOC | Traditional HELOC | |
| Time to apply | 5-10 minutes | 45 minutes |
| Time to fund | 5-10 days | 45-60 days |
| Rate type | Fixed | Variable |
| Application | 100% Digitial | Conventional |
| Minimum/ maximum loan | $25k/$400k 6 | $25k/$1M |
| Draw Period | 2-5 years | 10 years |
| Good for | Immediate use | Rainy day use |
Who We Are
Nick Kristoff is a Producing Branch Manager at Guaranteed Rate. He is licensed in Florida, Georgia, South Carolina, North Carolina, and Virginia. He has been named a Top 1% Mortgage Originator in America and a Top Originator by Scotsman Guide. He excels at helping homeowners utilize their greatest asset to make wise financial decisions. His family philosophy is simply, “say what you mean, mean what you say, and do what you say you’re going to do.” This straight-forward approach combined with his extensive knowledge and experience has allowed him to helpl his clients succeed within any market condition.
⭐️ ⭐️ ⭐️ ⭐️ ⭐️
Zach Y.
"I’ve known Nick for nearly 15 years, and I believe his is one of the best minds in this business. What makes him different is that he cares about the details. He cares about finding solutions to your problems. You will not feel like just another number in a line for them to push through their system. He cares about educating you. And he cares about guiding you to make a wise and informed decision. When I need a mortgage or to make a decision to refinance, The Kristoff Team is a trusted source of advice for me and my family. Their demand for excellence will show up from start to finish in all that they do."
⭐️ ⭐️ ⭐️ ⭐️ ⭐️
Bob D.
I just want to say thanks again to Nick and Mike Kristoff for helping me secure the mortgage financing on my new home. The Kristoff Team and Guaranteed Rate delivered the service I needed on time and in a very professional way. I have worked with Nick in the past and this latest experience was even better.
⭐️ ⭐️ ⭐️ ⭐️ ⭐️
Carl T.
We met The Kristoff Team in March and were immediately put at ease. All of our subsequent communications and submissions were done remotely; Kentucky to South Carolina. We spoke with Nick and Mike, and both were very responsive and made the process as painless and easy as possible; always returning calls ASAP. They were the professionals we needed during this important time in our life, and the friend we were happy to have met. A combination difficult to master, but they did! The website was extremely easy to access, navigate and upload, giving us the opportunity to send almost all our documents electronically. (Only my issue prevented 100% upload ). We also met and spoke with Lori, who was also very helpful, knowledgeable and pleasant. The entire process exceeded my expectations for what a mortgage application should be. I would refer The Kristoff Team to anyone looking for a mortgage broker.
Step by Step Video
Frequently Asked Questions
What is a HELOC?
A home equity line of credit — or HELOC — is a revolving credit line that converts your home equity into funds you can spend on just about anything. Whereas other types of home equity loans offer a lump sum payment, a HELOC gives you a line of credit to pull money as needed.
Gaining access to an open line of credit can be preferable to lump sum loans in some scenarios — for instance, if you want to renovate your home but aren’t sure how extensive the work will be or how much it will cost once completed. Taking out a traditional loan to cover all of your renovation expenses would be very tricky in that situation because you don’t know how much money you’ll need to get the job done. A HELOC gives you the option to take out cash at any time and in whatever increments you like. The maximum amount available to you for withdrawal is directly determined by the amount of equity you have in your home.
If you choose to apply for a HELOC loan, keep in mind that you are using your home as collateral and opening up a second mortgage on your property. That means you’ll need to make two mortgage payments each month — one for your original mortgage and one for your HELOC loan. Also, that second mortgage will have interest rates that are likely variable and therefore may fluctuate significantly over the life of the loan, depending on a variety of market-based factors.
How much money can I borrow with a HELOC?
Your loan amount will be largely based on your home equity. In some cases, Guaranteed Rate may approve a HELOC with a combined loan-to-value (CLTV) ratio as high as 85%.
With a Guaranteed Rate HELOC, you can take out a line of credit for as much as $400,000, depending on your eligibility qualifications.*
*Our loan amounts range from a minimum of $25,000 to a maximum of $400,000. For properties located in AK, the minimum loan amount is $25,001. 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.
How do I qualify for a HELOC loan?
When reviewing HELOC applications, Guaranteed Rate’s underwriting team evaluates a few key factors:
- Credit score: 620 minimum
- Debt-to-income ratio: 50% maximum
- Combined loan-to-value ratio: 85% maximum
- Property types: single-family houses, townhomes and condos are all eligible
What can I use my HELOC funds on?
Once your line of credit is open, you’re free to spend that money in a variety of ways. Some of the most common uses for a HELOC include:
- Consolidating high-interest debt like credit cards
- Covering major expenses like home renovations
- Paying for recurring costs like college tuition
How do I apply for a HELOC mortgage?
Applying for a HELOC with Guaranteed Rate is fast and easy. Our 100% digital application process can be completed within 10 minutes. If approved, you can expect to receive your funds as soon as five days from loan approval.
Head over to our digital application to get started on your HELOC loan today.
1Guaranteed Rate, Inc. home equity line of credit (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. This product is currently not offered in the states of New York, Kentucky, Tennessee, Texas, West Virginia, Delaware and Maryland. The HELOC requires you to pledge your home as collateral, and you could lose your home if you fail to repay. Borrowers must meet minimum lender requirements in order to be eligible for financing. Available for primary, second homes and investment properties only. Dependent on minimum credit score and debt-to-income requirements. Occupancy status, lien position and credit score are all factors to determine your rate and max available loan amount. Not all applicants will be approved. Applicants subject to credit and underwriting approval. Contact Guaranteed Rate for more information and to discuss your individual circumstances. Restrictions Apply.
2Source: Average credit card interest rate is 24.72% (Forbes ) vs. our HELOC starts at 8.65% (subject to change) – which is 64% lower.
3During Guaranteed Rate's Digital HELOC process, the borrower and/or Guaranteed Rate may need to communicate or facilitate the origination and closing of the borrower’s HELOC using non-digital methods, including but not limited to telephone or letter. There may be instances, due to borrower preference, applicable law, or other reasons, in which HELOC closing must occur in person. Additionally, Guaranteed Rate makes no representations and cannot guarantee that borrower’s HELOC will be serviced by a servicer that maintains an entirely digital process.
4Approval may be granted in five minutes but may be subject to verification of income and employment. 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. In addition, funding timelines may be longer if we cannot readily verify that your property is in at least average condition with no adverse external factors with a property condition report and may need to order a desktop appraisal to confirm the value of your property.
5Source: Curinos Home Equity and Retail First Mortgage Originations Consortiums
6Our loan amounts range from a minimum of $25,000 to a maximum of $400,000. For properties located in AK, the minimum loan amount is $25,001. 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.
For Guaranteed Rate Home Equity Line, our APRs can be as low as 8.65% for the most creditworthy applicants and will be higher for other applicants, depending on credit profile and subject to applicable law. For example, for a borrower with a CLTV of 50% and a credit score of 800 who is eligible for and chooses to pay a 4.99% origination fee in exchange for a reduced APR, a five-year Guaranteed Rate Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 8.65%. The total loan amount would be $52,495. Alternatively, a borrower with the same credit profile who pays a 3.99% origination fee would have an APR of 8.95% and a total loan amount of $51,995. Your actual rate will depend on many factors such as your credit, combined loan to value ratio, loan term, occupancy status, and whether you are eligible for and choose to pay an origination fee in exchange for a lower rate. Advertised rates and terms are current as of 3/1/2024 and are subject to change without notice. In addition to paying the origination fee in exchange for a reduced rate, the advertised rates include a discount of 0.25% for enrolling in autopay.
For more information about HELOCs, click here