HELOC On A Home Listed For Sale
At least one program we offer can open a home equity line of credit on a home that is listed for sale, up to $400,000. Another program will not, so the program choice matters.
What a HELOC on a listed home requires
Each item below is a requirement of at least one HELOC program we offer that allows listed homes.
- The line can be no more than $400,000 while the home is listed for sale.
- The home cannot be in Texas.
- Your credit score must be at least 640.
- Your debt-to-income ratio can be no more than 50% on a 1-unit home, or 45% on a 2 to 4 unit home.
- Only one applicant is allowed; co-borrowers are not.
- The home must be a single-family home, townhouse, PUD, condo or 2 to 4 unit home.
Listed homes can qualify
Lines up to $400,000
Full line at closing
Pending sales count
One applicant only
All credit rules apply
Can You Get A HELOC While Selling?
Yes, under at least one program we offer, where allowed, as long as the line is $400,000 or less and the home is not in Texas.
At least one program we offer has a specific path for homes listed for sale. It applies when you answer yes to the question “Is this property currently for sale?” or when the address matches a listing with an active, contingent or pending status.
Another program we offer does not lend on a home listed for sale now or listed within the last 60 days. Under the program that does allow listed homes, every other rule still applies: you must meet all of its credit, income and property requirements. On a listed home, the share of your equity you can use may also be lower than on a home that is not listed.
Under that program, the full line is drawn at closing, and only one individual can apply. If you plan to put the money toward your next home, see our using home equity for a down payment page.
Why choose Saxton for a HELOC on a listed home
This page is for owners whose home is on the market who want to use their equity now.
Listed Homes Have A Path
At least one program we offer has a specific eligibility path for homes listed for sale.
Pending Sales Still Count
Under that program, a listing with an active, contingent or pending status can still qualify.
Lines Up To $400,000
While the home is listed, that program caps the line at $400,000. It is not offered in Texas.
Full Line At Closing
Under that program, the whole line is drawn at closing.
We Know Who Says No
Another program we offer does not lend on homes listed now or within the last 60 days. We send your file where it fits.
One Applicant Only
That program accepts one individual applicant and does not allow co-borrowers.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about getting a HELOC on a home listed for sale.
Yes, under at least one program we offer, up to $400,000 and not in Texas. You still have to meet all of its credit, income and property requirements.
Not under at least one program we offer. It treats a listing with an active, contingent or pending status as a home listed for sale, and its listed-home path still applies.
$400,000. The program that allows listed homes does not offer that path for loan amounts above $400,000.
No. The program that allows listed homes offers that path only where allowed, and it is not offered in Texas.
At least one program we offer will not lend on a home listed for sale within the last 60 days, so you may need to wait. Another program treats a home as listed only when you say it is for sale or its listing shows an active, contingent or pending status.
Not as a co-borrower. The program that allows listed homes accepts one individual applicant. Your stated income can include your spouse’s income, and that program can verify household income from someone who is not on the application.
Yes, under the program that allows listed homes. The full line is drawn at closing.
Find out what you qualify for
Tell us about your home and your listing, and we will show you the HELOC options that fit.
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.