Last Updated: 07/22/2025
Loan Exchange HELOCs
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Last Updated: 07/22/2025
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Highlights
Credit Score Range
Amount Range
Maximum LTV
Minimum Draw
Loan Term (Years)
Loan Exchange HELOCs Review
Key Takeaways
- Flexible draws: For standard options, you can draw a partial amount of the credit line at closing. After closing, you are able to draw a minimum of $5,000 up to the remaining line of credit.
- Draw periods. During the first 5 years (“Draw period”), your monthly payment will be interest only on the outstanding balance. After then, your monthly payment will be accrued interest plus principal at the end of Draw period amortized over 240 months.
- Fair credit accepted. Borrowers with a credit score as low as 580 may qualify for Loan Exchange HELOCs.
- Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Loan Exchange HELOCs does offer financing for primary and secondary homes (e.g. vacation properties).
- Origination fees of 0% to 5%. This is on the high end for lenders on SuperMoney's database.
- Maximum LTV. Loan Exchange HELOCs has a maximum loan to value ratio of 75%.
Loan Exchange HELOCs Pros & Cons
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Loan Exchange HELOCs FAQ
How much can you borrow with a HELOC?
What are the terms for Loan Exchange HELOCs?
Is there a minimum draw requirement?
What fees does Loan Exchange charge for a HELOC?
What types of property can you use as security for a HELOC with Loan Exchange?
- Primary residences
- Secondary or vacation homes
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