Home Equity Line of Credit

Get the cash you need without leaving home

Apply with our 100% online application in minutes
and funding in as few as 5 days.

While traditional HELOCs usually have variable interest rates that can change over time, our HELOC provides fixed rates. No need to wait for an in-person appraisal. Get the funds you need now, and move forward with life.

Complete our 100% online application

No in-person appraisal needed and pre-qualification won’t affect your credit score.

Get approved in 5 minutes, funding in 5 days

Borrow from $25,000 to $400,000. Easy online notary services for closing.

Compet­itive, fixed rates

Competitive rates and choose from 5-30 year terms and no pre-payment penalty.

Easy Qualifying

Minimum credit score of 640 and a maximum debt ratio (DTI) of 50%.

Goodway Mortgage | 10808 S River Front Pkwy #3137 South Jordan, UT 84095 |  (801) 285-0222 | [email protected] | NMLS ID 2235920 | For licensing information go to www.nmlsconsumeraccess.org

Goodway Mortgage is licensed in Utah. Equal Housing Opportunity

The Home Equity Line is an open-ended product, and 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 includes an additional draw feature. As borrowers repay the balance on the line, additional draws may be made during the draw period. The interest rate for any additional draw will be based on the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. The fixed rate for additional draws may be higher than the fixed rate for the initial draw.

Loan approval may be granted in as little as five minutes; however, approval is subject to income, employment, and property condition verification through a property condition report. The five-business-day funding timeline assumes loan closing with a remote online notary. Funding timelines may be extended for loans in counties requiring in-person closings, disallowing e-signature recordings, or imposing waiting periods before closing.

Checking rates and terms involves a soft credit pull, which will not affect your credit score. Submitting a formal application will trigger a hard credit pull, which may impact your credit score, as we request a full credit report from one or more consumer reporting agencies.

Unlike personal loans or credit cards, HELOCs are secured by your home as collateral. Loan amounts range from $25,000 to $400,000. Maximum loan amounts depend on home value, lien position, credit profile, verified income, and equity. Independent data sources and automated valuation models determine home values and equity.

Available APRs range from 7.20% to 15.60%. Lower APRs are available to the most qualified applicants based on credit profile, property location, and selection of five-year loan terms. APRs will be higher for other applicants and longer loan terms. Your exact APR will depend on creditworthiness, combined loan-to-value ratio, loan term, occupancy status, and whether you choose to pay a higher origination fee for a lower rate. APRs for home equity lines of credit do not include costs beyond interest. Rates change frequently; your final APR will be based on the date of application.

Depending on your credit profile and property location, you will be responsible for an origination fee of up to 2.99% of your initial draw. Additional costs may include a property valuation fee ($180 if an AVM is unavailable), manual notarization fee ($380, if required by your county), recording fees ($0-$315), and recording taxes ($0-$1,400 per $100,000 borrowed). Property insurance is required, and flood insurance may be necessary if your property is in a flood zone.

This tool is for illustrative and educational purposes only and does not represent a commitment to lend. All loan calculations are estimates based on the inputs you provide. The final loan amount will depend on factors such as your credit history, verified property value, outstanding liens, debt-to-income ratio, and requested credit amount. If approved, your loan amount may differ from the estimated amount provided.

Note: Terms and conditions are subject to change. For specific details, please contact Goodway Mortgage directly at (801) 285-0222 or [email protected].