HELOC from Upstart Home Lending

A home equity line of credit (HELOC) is a flexible way to borrow money leveraging the equity in your home. Instead of receiving a lump sum, you’re approved for a line of credit and can draw funds as needed—up to your approved limit. You only pay interest on the amount you use. 

With a HELOC from Upstart Home Lending, you can:

• Borrow $26K–$250K based on your eligibility
• Access funds online with a simple application process
• Lock in a fixed rate on each draw³ for predictable payments starting at 6.52% APR¹

HELOCs are commonly used for larger expenses like debt consolidation or home improvements, especially when you have home equity and are looking for lower rates than unsecured options like personal loans or credit cards. With a HELOC from Upstart Home Lending, borrowers are required to draw at least 80% of their approved credit limit at closing. 

A HELOC from Upstart Home Lending gives you access to a flexible line of credit based on the equity in your home.

Once approved, you can draw funds as needed—up to your credit limit, and only pay interest on the amount you use. With an Upstart Home Lending HELOC, borrowers are required to draw at least 80% of their approved credit limit at closing.

Here’s how it works:

• Check your rate online in minutes without affecting your credit score⁴
• Get approved for a credit line based on your home equity and financial profile
• Draw funds when you need them, up to your approved limit
• Lock in a fixed rate on each draw, with predictable monthly payments³

Many borrowers can close in as fast as 2 days, with funding in as fast as 7 days, depending on their application and verification, which is 18x faster than industry standard. ²

The best HELOC rates depend on the lender and your financial profile. Upstart Home Lending offers some of the most competitive HELOC rates available—starting as low as 6.52% APR¹ on your initial draw, depending on your eligibility.

Because a HELOC is secured by your home, rates are often lower than personal loans and credit cards, helping you reduce the overall cost of borrowing for larger expenses like debt consolidation or home improvement.

In many cases, Upstart Home Lending’s AI-powered underwriting model helps deliver more competitive rates without added complexity or hidden fees.

Lowest HELOC rates guaranteed, if you get a lower rate somewhere else we'll give you a $200 giftcard*.

To see the rate you may qualify for, you can check your rate online in minutes without affecting your credit score⁴.

With a HELOC from Upstart Home Lending, you can borrow between $26,000 and $250,000, depending on your eligibility.

Your approved credit limit is based on several factors, including:

• The amount of equity in your home
• Your credit profile and income
• Your existing mortgage and debts

Because a HELOC is secured by your home, it can offer higher borrowing limits than many unsecured options, making it a good fit for larger expenses like debt consolidation or major projects.

To see how much you may qualify for, you can check your rate online in minutes without affecting your credit score⁴.

A HELOC does not replace or change your existing mortgage. It’s secured by your home, and it sits alongside it as a separate line of credit.

With a HELOC from Upstart Home Lending:

• Your current mortgage stays in place with its existing rate and terms
• You can borrow against your home equity without refinancing
• You only pay interest on the amount you draw, not your full credit limit

This makes a HELOC a flexible option for accessing your home’s value without impacting your mortgage.

Your eligibility for a HELOC is based on your overall financial profile. While credit score is one factor, Upstart Home Lending uses a more advanced, data-driven model to evaluate applications, which can help provide more personalized offers compared to traditional credit models.

In addition to your credit score, your offer is based on factors like:

• Your home equity
• Your income and debt-to-income ratio
• Your existing mortgage balance

You may still be able to qualify for a HELOC with less-than-perfect credit through Upstart Home Lending.

Unlike traditional models, Upstart Home Lending considers more than just your credit score, using advanced AI underwriting to better understand your unique profile and tailor offers that fit you.

While your credit score is one factor, your offer also depends on:

• Your home equity
• Your income and debt-to-income ratio
• Your overall financial profile

In some cases, borrowers may qualify with a credit score as low as around 600.

To see what you may qualify for, you can check your rate online in minutes without affecting your credit score⁴.

To qualify for a HELOC through Upstart Home Lending, you’ll need to meet a few key requirements based on your financial profile and home equity.

Upstart Home Lending evaluates more than just your credit score, looking beyond what traditional models see, to provide offers tailored to your unique profile.

To qualify, factors considered are:

• Your home equity (how much of your home you own)
• Your credit profile (you may qualify with scores as low as around 600)
• Your income and debt-to-income ratio
• Your existing mortgage balance

Because a HELOC is secured by your home, having sufficient equity is an important factor in determining your eligibility and loan amount.

To see if you qualify, you can check your rate online in minutes without affecting your credit score⁴.

Both a HELOC and a home equity loan let you borrow against your home equity, but a HELOC may offer more flexibility for many borrowers.

A HELOC gives you a revolving line of credit, so you can borrow what you need over time and only pay interest on what you use. This can make it a strong option for ongoing or variable expenses, like projects or consolidating debt.

A home equity loan provides a one-time lump sum with fixed payments, which may work well if you know exactly how much you need upfront.

If you’re looking for flexibility, ongoing access to funds, and potentially lower rates, a HELOC may be a better fit.

A cash-out refinance and a HELOC can both help you access your home equity.

• A HELOC lets you keep your existing mortgage and borrow against your equity as needed. It’s often a good fit if you want flexibility and don’t want to change your current mortgage rate.
• A cash-out refinance replaces your existing mortgage with a new, larger loan and gives you the difference in cash. This may make sense if you want a single loan and potentially a lower mortgage rate, but it resets your loan terms.

If you want ongoing access to funds and to keep your current mortgage, a HELOC may be a better option. If you prefer a lump sum and are comfortable refinancing your mortgage, a cash-out refinance may be a better fit.

Applying for a HELOC through Upstart Home Lending is a fast, fully online process.

Here’s how it works:

• Check your rate online in minutes without affecting your credit score⁴
• Complete your application with details about your home and finances
• Get approved for a credit line based on your eligibility
• Close and access your funds

Borrowers can close in as fast as 2 days, with funding in as fast as 7 days, depending on their application and verification.²

To get started, you can check your HELOC rate online and see what you qualify for.

Upstart Home Lending offers a HELOC with simple, transparent fees.

There are no annual fees, no prepayment penalties, and no fees to redraw funds.⁵ Instead, there is one upfront origination fee, which typically ranges from 0% to 4.99% of your approved credit limit, depending on your eligibility.

This straightforward structure helps you understand your costs upfront, without ongoing or hidden fees.

Our HELOCs can close in as little as 2 days, compared to the industry average of around 37 days, with funding in as fast as 7 days. This means you could get your funds up to 18× faster than the industry standard.² 

The timeline may vary based on:

• How quickly you complete your application
• Verification of your information
• Property and state requirements

Because the process is fully online with no in-person appraisal for most applicants, it’s faster and more convenient than a traditional bank HELOC.

There is no in-personal appraisal for most applicants to apply for a HELOC from Upstart Home Lending.

The process is fully online, and many borrowers can:

• Check their rate in minutes
• Apply without submitting physical paperwork
• Complete the process comfortably from home

In some cases, additional information or verification may be required depending on your application and property details.

Because the Upstart Home Lending HELOC experience is designed to be simple and digital, it can be 18x faster than the industry standards² and more convenient than a traditional bank HELOC process.