HELOC With A Card
Want to spend from your home equity line with a card? At least one HELOC we offer pairs the line with a card for purchases, plus cash outs and balance transfers, with lines from $5,000 to $400,000.
What a HELOC with a card requires
Each item below is a requirement or rule of the HELOC we offer with a card.
- A credit score above 620. Larger lines need higher scores.
- A line from $5,000 to $400,000, set by your credit score and whether you live in the home.
- The full line is drawn when the account opens. Card purchases, cash outs and balance transfers open up as you pay it down.
- Debt-to-income of 55% or less on a home you live in, or 45% or less on a home you do not.
- A single-family home, townhome, PUD or condo. High-rise condos, mobile homes and manufactured homes are not eligible.
- At least $30,000 of equity left in the home after the line is added.
A card tied to your line
Balance transfers built in
Lines from $5,000
No full appraisal
First or second lien
Up to two applicants
How Does A HELOC With A Card Work?
The whole line is drawn when the account opens. As you pay it down, you can draw again with the card, a cash out or a balance transfer.
A HELOC with a card is still a home equity line of credit secured by your home. At the program we offer with a card, the full credit limit is drawn when the account opens. Once you pay that balance down, you can draw again three ways: card purchases, cash outs and balance transfers.
Cash outs and balance transfers draw at a fixed rate set when you draw, and card purchases run at a floating rate. The bank the line closes with also issues the card. To move higher-interest balances, see HELOC debt consolidation.
Not every home or borrower fits. The program is not offered in every state, high-rise condos and manufactured homes are excluded, and a home you do not live in needs a 720 score, a line of $250,000 or less and at least 18 months of ownership.
Why use Saxton for a HELOC with a card
This page is for homeowners who want their equity line to work like a card, for purchases, cash outs and moving balances.
A Card On Your Line
At least one HELOC we offer comes with a card for purchases once the opening balance is paid down.
Move Balances Over
Balance transfers and cash outs draw at a fixed rate set when you draw.
Small Lines Welcome
Lines start at $5,000, so you do not need to borrow a large amount to open one.
No Full Appraisal
The home’s value comes from an automated model, with an exterior-only evaluation as a fallback.
Two Applicants Allowed
Up to two people can apply. The lower score sets eligibility and the higher score sets the line size.
Limits Stated Up Front
The full line is drawn at opening, high-rise condos are excluded, and the program is not offered in every state.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about a HELOC with a card.
Yes. At least one HELOC we offer comes with a card. The card draws on the same home equity line, and you can also take cash outs and balance transfers.
Not until you pay down the opening balance. The full line is drawn when the account opens, and card purchases, cash outs and balance transfers become available as you pay it down.
A score above 620. The largest lines need higher scores, and a home you do not live in needs 720 or higher.
As little as $5,000. The largest line is $400,000, set by your score and whether you live in the home.
Both, depending on how you draw. Cash outs and balance transfers draw at a fixed rate set when you draw. Card purchases run at a floating rate.
No full appraisal. The program values the home with an automated model and can use an exterior-only evaluation when the model cannot.
Yes, with limits. A home you do not live in needs a 720 score, a line of $250,000 or less, debt-to-income of 45% or less and at least 18 months of ownership.
Find out what you qualify for
Tell us how you plan to use your line and we will show you whether the card version fits.
Get Pre-Qualified- Consumer Financial Protection Bureau, home equity loan compared with a HELOC
- Consumer Financial Protection Bureau, mortgages
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Draw requirements and variable rate terms apply. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.