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  Axos Bank HELOC

Axos Bank HELOC

in Home Equity Lines of Credit from Axos Bank · NMLS ID #524995

Claimed

Axos Bank HELOC

Claimed

in Home Equity Lines of Credit from Axos Bank · NMLS ID #524995

Net Recommendation Score +100%

SUPERMONEY NET RECOMMENDATION SCORE

+100%

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Highlights
Community Rating

Rating not yet determined  

Loan Amount $30,000 - $250,000
APR  (Fixed APR) 4.25% - 18%
Maximum LTV 97%

Axos Bank HELOC Review

Axos Bank HELOC is offered by Axos Bank (NMLS #524995), a bank founded in 2000 and based in San Diego, CA. Axos Bank HELOC is available in 50 states (and Washington, DC).

Axos Bank HELOC FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit that are secured by your home. Once you get approved for a certain amount, you can borrow as much as you need by writing a check or a credit card attached to the account.

Axos Bank HELOC allows borrowers to apply for lines of credit of up to $250,000. Note that the maximum loan amount you can borrow will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

This lender's maximum loan to value rate is 97% for qualified borrowers. That means the total debt secured by the property cannot exceed 97% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have excellent credit, you may qualify for a line of credit of up to $77k.

What are the terms for a Axos Bank HELOC?

HELOCs have a draw and a repayment period. During the draw period you can borrow as much as you need up to your credit limit. After the draw period, you are responsible for repaying the loan. 

Axos Bank HELOC offers home equity loans with terms ranging from 20 to 20 years.

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What range of rates does Axos Bank HELOC offer?

Axos Bank HELOC offers APRs starting at 4.25% and up to 18%.

Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.

What is the estimated funding time for a home loan via Axos Bank HELOC?

Axos Bank HELOC will typically fund home equity lines of credit within 21 and 30 days of approval.

What fees does Axos Bank HELOC charge for a HELOC?

Axos Bank HELOC may charge a loan origination fee. There is also an annual fee of $50. Another fee you should factor in is a cancelation fee of up to $750.

What types of property can you use as security for a HELOC with Axos Bank HELOC?

Lenders often have restrictions on the type of properties they will accept as security for a HELOC. Axos Bank HELOC will consider lines of credit secured by the following property types:

  • Primary homes.
  • Secondary homes and vacation properties

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Contact

  • Headquarters
  •   4350 La Jolla Village Drive
    Suite 140
    San Diego, CA 92122
  •   Visit Site

Hours of Operation

  • Sunday 12:00pm - 12:00pm
  • Monday 12:00pm - 12:00pm
  • Tuesday 12:00pm - 12:00pm
  • Wednesday 12:00pm - 12:00pm
  • Thursday 12:00pm - 12:00pm
  • Friday 12:00pm - 12:00pm
  • Saturday 12:00pm - 12:00pm

Other Services by Axos Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Annual Fee $50
Cancellation Fee $750
Credit Score Range 620 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Joint Loan Applications Accepted Co-borrower
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Social Security Number
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Maximum LTV 97%
Draw Period 10 years
Funding Time Range 21 - 30 days
Joint Loans Available  
Repayment Period 10 years
Loan Term 20 years
Loan Amount $30,000 - $250,000
APR (Fixed APR) 4.25% - 18%
Terms 20 years

Axos Bank HELOC Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+100%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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