Draw and draw again
Take what you need at closing and draw again as you pay down the balance, with no new application.
Home equity line of credit
The equity in your home as a line of credit.
PSG sends home equity applications to a participating lender that reviews them online. The questions cover what sizes the line: the property, what is owed on it and your income. Checking your rate uses a soft credit pull.
- A revolving line you can draw again as you repay it
- Your line amount and rate from a soft credit pull
- Primary homes, second homes and investment property, including homes held in a trust or an LLC
- The line
- The home
- You
- Documents
- Review
The home the line is secured by
A home equity line is sized against the property and what is already owed on it. These are the answers that set the limit.
How do you use the property?
A primary residence carries the largest line and the longest terms.
A home held in your name, jointly, in a revocable trust or by an LLC all qualify.
A second mortgage or an existing home equity line counts against the same 80%. Enter 0 if the first mortgage is the only loan on the home.
Available at 80% of value Home value at 80%, less the loans already on it
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About you
This is what the soft credit pull runs on. It does not affect your credit score, and we already have your name and how to reach you.
Used for the soft pull only. Nothing here is a hard inquiry.
Residency
Do you live at the property?
What the lender needs on the home
The mortgage statement and the insurance page are what confirm the loans already on the property. Income is what sizes the line against them.
Attach what you have. Nothing here holds up your rate. The rest can go up later in your secure application.
Supporting documents
A property tax bill, an HOA statement, a recent appraisal, a payoff letter on the loan being consolidated, and anything else already in hand. No limit on how many.
PDF, JPG, PNG, Excel or Word, up to 100 MB per file. Identity verification and the online signing happen later, in the secure application.
Review and submit
Check the numbers on the home. You can go back and change anything.
Your application is in.
Your home equity application has gone to participating lenders. Your secure portal is next: the rest of the application continues there, and lender responses arrive there as they come in.
A line that reopens as you repay.
As the balance comes down, the line becomes available again, so the same equity can fund the next need.
A soft pull to start
The application starts with a soft credit pull, so you see the line and the rate before any hard inquiry.
Use it in the company
Founders use home equity lines to buy a business, add equipment or retire higher-rate debt.
From application to your first draw.
Your portal tracks the file through closing.
- 1
Apply
The home, what is owed on it and your income, in one free application.
- 2
See your line
A soft credit pull returns the line amount, the rate and the term options.
- 3
Documents
The mortgage statement, the insurance declaration and proof of income are uploaded once.
- 4
Sign
The lender prepares the closing documents and explains how signing works in your state.
- 5
Draw
Funds are available after closing, and the rest of the line stays open.
Home equity by the numbers.
How these lines are usually sized, and what they allow.
Up to 80% of value
Lines are usually sized at 80% of the home’s value less the mortgage and any other loan against it.
Terms of 10 to 30 years
A longer term means a lower payment on the same draw, and you choose it at closing.
Four ways to hold title
In your name, jointly, in a revocable trust or in an LLC, on a primary residence, a second home or an investment property.
See what your equity can support.
Answer the questions about your home, and the line, the rate and the term options come back to your portal. Checking does not affect your credit score.
- 80% of valueLess what is owed on the home
- 10 to 30 yearsRepayment term
- Soft pullTo check your rate