A HELOC is like a credit card secured by your home’s equity.
Qualify with steady income, good credit (680+), and 15-20% home equity.
Lenders want debt-to-income ratios under 43%—keep your debts manageable to qualify.
Higher Fed rates impact HELOC costs, but rate cuts bring immediate relief.
If denied, improve credit, reduce debts, or ask lenders about bank statement programs.