Borrow against what your home will be worth — not what it's worth today.
A renovation HELOC sizes your credit line off the after-renovation value of your home, so a remodel that adds real value can fund itself — while you keep your current mortgage.
How a renovation HELOC works
1. You apply once, with your plans
One application, one credit review — plus your renovation plans and contractor bids. We price this program against the other eleven at the same time, so you're not guessing.
2. The line is sized on the after-renovation value
Instead of lending against what your home is worth today, the lender considers what it will be worth once the work is done. That future value is what unlocks a bigger line.
3. You draw as the work progresses
For up to 10 years you pull funds as the project needs them, paying interest only on what you've drawn. A monthly maintenance fee applies until an appraiser confirms completion.
4. Repayment arrives on schedule
When the draw period ends, the balance moves into a 20-year repayment. We walk you through what that payment looks like years before it happens.
Key terms
Homeowners planning a major renovation whose home's expected value after improvements may support more borrowing than its value today. For primary residences and eligible second homes, not investment properties.
- Type
- Renovation-only revolving line of credit
- Rate
- Variable: prime plus a risk-based margin
- Amount
- $50,000–$750,000; cannot exceed renovation cost; credit and equity limits apply
- Term
- 10-year draw period, then 20-year repayment
- Equity
- Up to 95% combined loan-to-value using after-renovation value; current-value limits also apply
- Payment
- Interest-only during the draw period; principal and interest during repayment
Keep your existing mortgage when used as a second lien. A monthly maintenance fee applies until completion is confirmed by an appraiser. Renovation plans, underwriting and location restrictions apply; unavailable in Texas.
A renovation HELOC is usually right when
- You're planning a major renovation — an addition, a full kitchen, an ADU — and today's equity alone won't cover it.
- The remodel will clearly raise your home's value, and you want to borrow against that future value.
- You want to keep your current first mortgage — and its rate — exactly where it is.
- You'd rather draw funds as the project progresses than take one lump sum on day one.
- Your home is your primary residence or an eligible second home.
Look elsewhere when
- The property is an investment rental — this program is for primary residences and eligible second homes only.
- You're in Texas — this program isn't available there.
- Your project is small and today's equity already covers it — a traditional HELOC is simpler and cheaper.
- You want one fixed payment from day one — a fixed-rate second mortgage does that better.
How much could your renovation unlock?
Enter four numbers. This is arithmetic, not an offer — your real line comes from underwriting, an appraisal, and your renovation plans.
The added value is your best guess — an appraiser sets the official after-renovation value during underwriting.
The smallest of: 95% of the after-renovation value minus your balance, the renovation cost, and the $750,000 program cap.
Measured against the after-renovation value.
For contrast: 85% of today's value minus your balance.
Estimates only — not a quote, an approval, or a commitment to lend. The line cannot exceed the renovation cost, and a monthly maintenance fee applies until completion is confirmed by an appraiser.
Or call us directly — 602-550-5626.
Common renovation HELOC questions
How is this different from a regular HELOC?
A regular HELOC sizes your line off your home's value today. A renovation HELOC sizes it off the expected value after the improvements — so a remodel that adds real value can support a meaningfully larger line, up to 95% combined loan-to-value.
How much can I borrow?
Lines run from $50,000 to $750,000, and the line cannot exceed the cost of the renovation itself. Credit and equity limits also apply — the estimator above shows the arithmetic, but underwriting sets the real number.
Do I have to use a contractor?
Yes — renovation plans and bids are part of the application, and an appraiser confirms the work is complete. This isn't a line for weekend DIY projects; it's built for real, planned renovations.
Are there extra fees?
A monthly maintenance fee applies until the renovation is confirmed complete by an appraiser. Beyond that, costs are similar to other HELOCs — we'll lay every fee out before you sign anything.
Does applying hurt my credit?
One application means one credit review. We price every program you're eligible for from that single review, so you're not applying separately to several lenders.
Not sure a renovation HELOC is the one?
It's one of twelve ways to use your equity. Compare them side by side, or tell us your situation and we'll point you at the two or three that genuinely fit.
Questions? We're Here to Help.
Call me today to discuss which program is best for you.
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