First-Position HELOC

A home equity line of credit in first lien position when you want flexible access to your equity.

Who it's for

Homeowners whose first mortgage is paid off and who want a line of credit
Owners who want the HELOC to sit in first lien position
People who need ongoing access to funds, not a one-time cash-out
Anyone comparing a first-lien HELOC with a cash-out refinance

Key benefits

First lien position

This HELOC is in first position, which can fit when there is no other mortgage in front of it, or when a first-lien line of credit is the structure you want.

Draw what you need

A line of credit lets you tap equity as projects or expenses come up, instead of taking a lump sum all at once.

Compared side by side

I'll put a first-position HELOC next to a refinance and a second-position HELOC so you can see which structure actually fits.

Typical requirements

Enough equity and a credit and income profile that meet current HELOC guidelines
A property that can support a first-lien home equity line of credit
A clear use for the funds, such as home projects, reserves, or other goals
Documents similar to a refinance: income, assets, ID, and homeowners insurance
Exact terms vary. Let's review your situation.

Questions about First-Position HELOC

What does first position mean?

First position means the HELOC is the primary lien on the home. That often fits when the old mortgage is paid off, or when the line of credit is meant to be the first lien.

Is a first-position HELOC the same as a cash-out refinance?

No. A cash-out refinance replaces your loan with a new first mortgage and a lump sum. A HELOC is a line of credit you can draw from over time. We'll compare both.

Can I still get a first-position HELOC if I have a mortgage?

It depends on the loan and the lien setup. If you already have a first mortgage you want to keep, a second-position HELOC is often the better fit. I'll look at your title and numbers with you.

Do I have to use the whole line at once?

Usually no. You typically draw what you need during the draw period. I'll explain how draws, payments, and the repayment period work on the program we review.

Second-Position HELOC

Keep your first mortgage and tap equity with a second-lien home equity line of credit.

Learn more →

Refinance

Lower your payment, shorten your term, or tap your home's equity.