Last Updated: 04/18/2025
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Highlights
Credit Score Range
620 - 850
Amount Range
$30,000 - $250,000
Maximum LTV
60%
Minimum Draw
$30,000
Loan Term (Years)
20
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 are available in 48 states and Washington, DC.
Key Takeaways
- Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for Axos Bank HELOC.
- Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
- Maximum LTV. Axos Bank HELOC has a maximum loan to value ratio of 60%.
Axos Bank HELOC Pros & Cons
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Axos Bank HELOC FAQ
How much can you borrow with a HELOC?
HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.
Borrowers can apply for lines of credit of up to $250,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.
The maximum loan-to-value (LTV) ratio goes up to 60%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $40k in credit.
What are the terms for Axos Bank HELOC?
HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.
Axos Bank HELOC offers home equity loans with terms ranging from 20 to 20 years.
Is there a minimum draw requirement?
Yes. The minimum draw requirement is $30,000.
What is the estimated funding time for a HELOC?
The HELOC through Axos Bank can fund in as few as 21 days after approval.
What fees does Axos Bank HELOC charge for a HELOC?
Axos Bank HELOC may charge an origination fee.
What types of property can you use as security for a HELOC with Axos Bank HELOC?
Axos Bank may consider HELOCs secured by the following property types:
- Primary residences
- Secondary or vacation homes
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Message from Axos Bank HELOC
Hours of Operation
Sunday
12:00AM - 12:00AM
Monday
12:00AM - 12:00AM
Tuesday
12:00AM - 12:00AM
Wednesday
12:00AM - 12:00AM
Thursday
12:00AM - 12:00AM
Friday
12:00AM - 12:00AM
Saturday
12:00AM - 12:00AM